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PE-backed Titan Wealth has bought two East Anglian firms for undisclosed sums.
The acquisitions of advice firm Finance Shop Limited and its sister discretionary portfolio management firm FS Wealth Management Limited will bring Titan Wealth’s total assets under management and advice to £37bn.
Finance Shop offers face-to-face independent advisory services on retirement, investment, mortgage, tax-planning and protection for personal and corporate clients and has £750mn of assets under advice.
While FS Wealth Management creates tailored investment portfolios for clients with around £340mn of assets under discretionary mandate.
Finance Shop was founded in 1990 and has more than 4,000 clients across the UK and has a team of 14 advisers.
Andrew Fearon, joint group chief executive and head of M&A at Titan Wealth, said: “We are pleased to welcome Finance Shop and FS Wealth.
“The firms have built a strong presence in East Anglia, a region of great importance to us. The acquisition allows us to continue building our geographical footprint in the East of England and further enhances our vertically integrated client offering.”
This deal comes after Titan Wealth snapped up workplace pension solution business, Workplace Advice Group in April this year.
Titan Wealth is owned by a trio of private equity firms, Parthenon Capital Partners, Hambleden Capital and Ares Management.
Nick Buchan, director of Finance Shop, added: “The team’s [Titan Wealth] support will enable us to offer better outcomes for our clients who are at the heart of our business. Titan Wealth’s scale will help to support our advisory and discretionary offerings.”
alina.khan@ft.com
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