Sound Financial Management (SFM), a Plymouth-based independent wealth manager, has reportedly acquired Westward Asset Management, based in Exeter Street.

This is Sound Financial Management’s third acquisition in three years – and now expects to have £210 million under management this year, has reported.

Under the agreement, Westward’s directors Derek Hall and John Rio will join the Sound Financial Management team of advisers.

Commenting on the deal, SFM managing director Adam Pollard said: "We’re pleased to welcome Derek and John and their team and we are very much looking forward to working together.

"Their personal values, which are very much in keeping with ours, of openness and mutual trust, will be invaluable in maintaining and strengthening relationships with clients ensuring a seamless transfer to new management.