Financial Planning solutions provider Benchmark Capital, owned by Schroders, has bought the remaining minority stake in Harrogate-based Oculus Wealth Management for an undisclosed sum.

Oculus is a boutique advice network operating an IFA appointed representative model. It has 46 advisory firms and £4bn in AUA (assets under advice).

Benchmark acquired a 51% shareholding in Oculus in December 2022. Since then the number of appointed representatives in its network has climbed by 80% and assets under advice have grown strongly.

The Oculus management team and staff will remain with the business after its takeover.

Ed Dymott, chief executive, Benchmark, said: “We’ve worked with the team at Oculus for ten years and have built a proposition together that’s been highly successful in attracting advisers from wealth managers and private banks to set up their own practices.

“Adding Oculus, alongside our own Financial Planning business and network, allows us to support a suite of adviser models, both independent and restricted, all built on the same efficient technology platform and end-to-end solutions.”

Duncan Read, managing director, Oculus, said: “Our partnership with Benchmark has helped accelerate Oculus’ growth through supporting advisers to start their own businesses with centralised technology, business administration and regulatory support.

“Together, we’ve helped them to grow their own businesses and careers whilst offering a structured pathway to exit. This deal cements those combined strengths, supporting advisers through their whole journey.”

Benchmark said the Oculus model focuses on establishing new advice firms for advisers looking for an environment in which to deliver a high-quality advice proposition. Its centralised adviser services extend to the end-to-end provision of both business administration and regulatory support, broadening Benchmark’s solutions for advisers looking to set up and run their own practice.

Benchmark has been busy on the acquisition trail in the last few years.

In February it acquired £200m AUA Huddersfield-based adviser firm Robertson Baxter.

In December 2023 it acquired £111m AUM Hayward Heath-based Champain Financial Services for an undisclosed amount.

In July 2023 it acquired 32-adviser, £755m AUM Swindon-based Unique Financial Planning.

In March 2023 it bought Chartered Financial Planners Kennedy Independent Financial Advice (KFA) in Derry to expand its presence in Northern Ireland.

In November 2022 Benchmark acquired a 49% stake in West Midlands-based Chartered Financial Planning firm Chartered Independent. It also completed the 100% acquisition of Milton Keynes-based IFA Advison under the firm’s buy-out programme in 2022.