Adviser support firm and Sense network owner Adviser Services Holdings Limited (ASHL) has acquired two Financial Planning firms through its growing national advice business, LYNC Wealth Management.

It has acquired Friarsgate Financial Planning in Chester and Richard Armitage Wealth Management South West Limited in Newton Abbot, Devon.

The two acquisitions will add more than £200m AUA and 500 wealth clients to LYNC, more than doubling its clients and AUA.

ASHL acquired Sheafmoor Money Management in Sheffield and North Financial Management in Belfast to form the foundation for the new LYNC business in March. The firms had a total of more than £180m in assets under advice and 450 wealth clients.

The company said LYNC complements ASHL’s existing network offering through Sense and Lyncombe, by providing succession planning options for advice firms within the group and across the wider market. Of the four acquisitions to date, two have been from within the group and two from Quilter Financial Planning.

Darren Booth, founder of Friarsgate Financial Planning, said: “The ASHL group has been instrumental in our successful journey. The smooth transition from Sense network will ensure the continuity of service between our dedicated team and our valued clients."

Richard Armitage, owner of Richard Armitage Wealth Management South West Limited, said: “I am pleased to be working again with advisers and senior management at ASHL, with whom I have strong relationships and indeed share the same values when it comes to looking after clients."

Michael Couzens, chief executive of ASHL, said: “Our philosophy will continue, which is steady growth focussing on quality firms and close relationships with people, including the end client. We have a pipeline of similar opportunities, and now that we have bedded in our processes, we will begin offering this more widely to our member firms and across the market."

Adviser Services Holdings Limited (ASHL) is a privately owned company run by the owners and small investors. It was incorporated on 22 May 2019.

ASHL’s sister discretionary fund management business Rockhold Asset Management has more than £900m in AUM and expects to hit £1bn in the coming months.

Among the key figures behind ASHL are chief executive Michael Couzens, who has a 25 year career in governance and compliance; managing director Andy Ferns, who led distribution networks at Zurich and Openwork and was a founding director of Caerus Network which was sold in 2017, and commercial director Stuart Creswell, who was previously head of relationship management at Sesame Bankhall and has worked at Paradigm Partners, Paradigm Financial Advisers and Caerus Network.