MKC Wealth has acquired London-headquartered independent financial adviser firm Anthony, Bryant & Company, reported FT Adviser.

Financial terms of the deal were not disclosed.

Anthony, Bryant & Company was founded by Tony Ahearne around 45 years ago. The firm manages $91m (£70m) in assets on behalf of 126 households it advises.   

As part of the transaction, Ahearne will MKC as in an ambassadorial role. He will responsible for the handover of client relationships through face-to-face meetings.

MKC said: “In a long career in the industry I have built relationships with clients who have become very good friends. I am proud that all new business has come from recommendations of existing clients and in many cases I am now advising the children and other relatives of these friends.

“As I begin the next chapter of my life, I am delighted to introduce my clients to the MKC Wealth team and I have absolute confidence that they will be very well looked after.”

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MKC Wealth was launched last year by former Quilter directors Dominic Rose and Nigel Speirs with backing from Cabot Square Capital.

The deal marks MKC Wealth’s second acquisition. The firm took over Quilter’s advice arm, Lighthouse Carrwood, in November last year.

Commenting on the deal, MKC Wealth CEO Dominic Rose added: “We have known Tony for a while and share the same values – namely putting clients at the heart of our businesses. We will continue to acquire selectively where opportunities exist and there is a close cultural fit.

“People like Tony have built-up an immense trust with clients.

“Taking over these relationships is a significant responsibility. We want the clients to be delighted with our service and for them, thank Tony for a carefully planned and well delivered succession plan.”