Independent Wealth Planners UK (IWP) has bought Clairville York Financial Advisers, a Cheam, Greater London-based firm with £374m in assets under advice.

The deal value was not divulged.

Clairville will serve as the main hub for IWP in the area.

Managing director Leslie Sharpe will continue to spearhead the firm and focus on driving its growth through acquisitions of other local IFAs.

IWP CEO David Inglesfield said: “As part of IWP, he’ll be able to focus his team on providing excellent client service. We look forward to providing him with the appropriate infrastructure and resources to help him expand Clairville York’s model throughout south London, Kent and Surrey.”

Clairville has been offering financial planning advice to private and corporate clients, trusts, employees and business owners since 1987.  The firm is staffed by six advisers.

Sharpe stated: “Securing the future growth of the business and its clients was key to us.

“Retaining our independence with access to IWP’s brand, central support and resources is the key to our combined futures, whilst allowing us to focus on our clients.”

The latest deal marks IWP’s eight purchase and its third this year.

Earlier this year, IWP snapped up Prosper Wealth Management, a chartered financial planning firm with £170m in FUM.

IWP also established its first Scottish presence this year with the acquisition of AGL Wealth Management. AGL added £100m in AUM to IWP.