The deal adds 458 new clients and £167m in assets under management to IWP. Credit: Charles Forerunner on Unsplash.

UK-based consolidator Independent Wealth Planners (IWP) has expanded its Hampshire presence with the acquisition of Southampton-based Encompass Financial Management.

The deal, whose financial terms are unknown, brings 458 new clients and £167m in assets under management to IWP.

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Established in 2004, Encompass is an independent financial service firm offering a range of financial planning services.

The firm will join IWP’s Hampshire regional firm Murdoch Asset Management, following the footsteps of Omnium Wealth Management.

Commenting on the deal, Encompass co-founder Mark Courage said: “We are really excited about the opportunity to work with IWP. It secures what we’ve worked so hard to deliver and provide by way of service and advice.

“This alliance will make sure the ethics, professionalism, and culture in our firm can be replicated with the greater support and resource under the IWP banner.”

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IWP CEO Chris Birch added: “We’re delighted to welcome Encompass to the IWP family – the acquisition strengthens our reach in the southern part of Hampshire. We’re really looking forward to start working with the team.”

Recent deals by IWP

IWP recently acquired Professional Wealth Management and Edinburgh-based wealth management firm, Sutherland Independent.

In December 2020, the company purchased financial planning firm Donald Wealth Management.

Other acquisitions made by IWP last year include Hunter Hammond Daniel Associates, Beyond Financial, Carnelian Capital Management, Richmond House Wealth Management, AGL Wealth Management, and Prosper Wealth Management, among others.