Fast-growing wealth manager and Financial Planner Advanta Solutions, owner of Chartered Financial Planner Advanta Wealth, has acquired south west-based City Financial Planning for an undisclosed amount, adding a further £800m of AUM. 

City Financial Planning has offices in both Bath and Exeter and becomes Advanta’s second acquisition in 2024 and the ninth in total.

In May it snapped up London Financial Planner firm Penney, Ruddy & Winter, to add 240m in AUM.

Advanta Wealth was formed in 2012 by current CEO Craig Webster. The firm now has offices in London, Glasgow and Dundee and the group of companies includes Advanta Wealth, Advanta Mortgages and Advanta Risk.

It said it is actively seeking further acquisitions after attracting investment from private equity firm Beech Tree. 

Craig Webster, chief executive of Advanta, said: “Adding a Bath and Exeter office to our group is a significant step in our journey. City Financial Planning have built a fantastic reputation with their clients, and we look forward to working with them on the next phase of their journey.

“Clients are demanding more from the firms they trust their Financial Planning to. Raising the standards of advice and service is central to our strategy.”

Tim Quirke, director of City Financial Planning, said: “Becoming part of the Advanta family enables us to continue to grow the business that has its origins almost 25 years ago when the current directors joined forces to create City Financial Planning.

“We have built up a base of fantastic clients, many of whom have become personal friends, making it essential for us to find the right company to partner with.”

He said Advanta will help to develop and enhance the advice and service levels to help grow the business to the next level.

City Financial Planning shareholders were advised by the Bishop Fleming corporate finance team of Joe Coghlan, Lindy Adams and David Lock.