UK-based Independent Wealth Planners (IWP) has purchased independent financial advisory (IFA) provider Holistic Financial Leadership (HFL) for an undisclosed sum.

With headquarters in Cambridgeshire, the UK, HFL currently has £252.45m assets under advice. The company employs a workforce of 18 people that includes five financial advisers, four client relationship managers, among others.

Following the latest deal, HFL founders Brenda Santimano and Patricia Hope as well as the existing employees will continue to become part of the company.

Santimano has been named as CEO of HFL and Hope will continue to serve as director of business.

Both Santimano and Hope established HFL in 2014 to provide their customers including business owners, corporate clients and others with comprehensive financial solutions.

Hope said: “We have worked hard to create a culture where clients and the wider market respect our integrity and trust the independence, consistency, and competitiveness of the services HFL offers to all our clients both private wealth and corporate.

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“With the support of IWP, we now have the resources to grow further, building on our existing success to provide our very personalised service to more private clients, business owners, executive care clients and corporate clients.”

Santimano added: “Over the last eight years, at HFL we have built our business to take a truly independent holistic approach to financial advice.

“We believe that this is integral to all areas of financial decisions and focus on building long-term relationships with our clients.”

The latest acquisition represents the 14th deal made by IWP last year. It helps IWP to grow its IFA portfolio.

In November last year, IWP announced the acquisition of Southport-based chartered financial planning firm Premier Wealth Management with an aim to grow its presence in Lancashire.