Kreston Reeves Financial Planning, a part of the Craven Street Wealth group, has acquired Canterbury-based advice firm Tarvos Wealth.

The deal, whose financial details are unknown, comes as Tarvos managing director Simon Ludden prepares for his retirement.

Following the transaction, Tarvos clients will benefit from Craven Street’s services, including investment propositions, platform technology and systems.

Tarvos, which will merge into the Craven Street Wealth group over time, will continue to operate from its current office in Canterbury.

Tarvos Wealth director and chartered financial planner Ruth Dolan said: “We see this as a natural fit with both companies aligning their culture and vision, to continue to provide a high standard of advice and service to clients. With both firms’ historic roots in the accountancy and legal sector, it gives us a fantastic opportunity to continue to build a trusted service upon which other professionals can rely for their clients.”

The acquisition adds 18 financial planners to Craven Street’s team and increases its assets under advice to £1.15bn.

Craven Street Wealth and Kreston Reeves Financial Planning managing director Tom Barnett said: “We are delighted to have completed this acquisition at an important stage of our plans for development after detailed discussions over an extensive period of time.

“Not only does the combined business provide additional scale which we intend to embrace for the enhancement of services to clients, but also expands our advice team which operates with an exceptionally broad range of skills and professionalism.”