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March 7, 2022

Lumin Wealth acquires Enhance Wealth Management

London-based wealth manager Lumin Wealth has acquired Hertfordshire-based advice firm Enhance Wealth Management.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
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Financial details of the deal were not disclosed.

The acquisition increases the group’s assets under management to around £800m and adds seven employees.

Lumin Group managing director Martin Cotter said: “I would like to thank Peter Flowers, Fiona Read, Sara Moore and the rest of the Enhance team. We are delighted to welcome them to Lumin Wealth.

“We know that our tried and tested integration formula provides an attractive new home for advisers and their teams. Our plan puts the continuity of the client’s financial planning journey at the forefront of everything we do. We continue to look for similar firms who share our values to join the Lumin family.”

Enhance Wealth Management managing director Peter Flowers said: “Our management teams have known each other for over two decades, so the ease with which we can assimilate Enhance clients into Lumin’s business model was one of the primary drivers behind our decision to join forces. We look forward to working with our new colleagues and building an even better client experience together.”

 The deal forms part of Lumin’s strategy to drive organic growth by partnering with like-minded advisers.

The firm’s recent purchases include Chamberlain Stean & West, Everett MacLeod and Hyperion.

In May last year, Swiss financial service company VZ Group bought a 50.1% stake in Lumin with the aim of acquiring the remaining shares in five years.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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