Independent Wealth Planners UK (IWP UK) has snapped up AGL Wealth Management, marking its first acquisition into Scotland.
AGL brings £100m ($129m) in assets under management to IWP UK, boosting the latter’s assets to more than £2bn.
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Financial details regarding the transaction, which is IWP UK’s seventh purchase to date, were not divulged.
Commenting on the deal, AGL founder Craig Gibson said: “We are delighted to be working with IWP as together we have a fantastic opportunity to build something greater.
“We will grow our business through selective acquisitions, taking on firms that meet our high employee, client and shareholder expectations.”
Set up in 2009, AGL has offices in Glasgow and Edinburgh.
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By GlobalDataThe firm has five advisers, who cater to corporate as well as private clients.
IWP UK CEO David Inglesfield said: “Craig and his team are dedicated to providing the type of brilliant financial advice that stands at the heart of IWP’s mission.
“Together we’ll help them reach even more customers in the year ahead.”
The latest deal comes shortly after IWP UK’s acquisition of Lancashire-based chartered financial planning firm Prosper Wealth Management.
Through the Prosper deal, IWP UK gained £170m in funds under management along with four advisers, six support staff, and 486 clients.
