Consolidator Independent Wealth Planners UK (IWP UK) has purchased financial planning firm Donald Wealth Management, marking its tenth deal this year.

The deal is part of a significant growth plan for IWP and expands its Midlands hub, Alexander Grace.

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Sutton Coldfield-based Donald Wealth Management is led by managing director Jamie Donald. The acquisition of the business adds £135m in assets to IWP.

Commenting on the takeover, Donald said: “In joining Alexander Grace and IWP we have found a group that truly keeps clients at the heart of everything they do. I’m excited for this next chapter of Donald Wealth Management, accessing support and infrastructure as part of Alexander Grace and IWP while focusing on what we do best, looking after our clients.”

IWP CEO David Inglesfield said: “This is the third excellent local firm to become part of Alexander Grace in 2020. We are proud of our investment in the region as we aim to make great independent local advice available to more people.”

IWP and recent deals

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Last month, IWP expanded its Midlands hub Alexander Grace with the takeover of financial planning firm Bishop Armstrong Financial Planning.

In September this year, the firm snapped up Hove, Sussex-based Hunter Hammond Daniel Associates for an undisclosed sum.

In the same month, IWP UK took over Solihull-based Beyond Financial, adding £58m in assets under advice. It also expanded its footprint in Scotland with the purchase of Kilmarnock-based financial planning firm Gilmour Hamilton Wealth Management.

The other acquisitions by the firm this year include Carnelian Capital Management, Richmond House Wealth Management, AGL Wealth Management, and Prosper Wealth Management, among others.