Cheshire-based independent financial adviser Cullen Wealth has received a £4m loan to support a management buy-out and a hunt for acquisitions.

Headquartered in Heaton Mersey, Cheshire, Cullen Wealth has more than 3,000 clients and over £1bn in assets under management.

The firm was founded in March 1998 by Richard Cullen and provides investment, pensions and tax planning services to individuals and businesses.

The firm holds Chartered status from the Chartered Insurance Institute.

The £4m loan was provided by OakNorth Bank which believes that the financial advisory sector is set for significant growth over the next five years, driven by increased wealth, an ageing population and a rise in workplace pensions.

Richard Cullen, chairman and CEO at Cullen Wealth, said the firm also plans to use the funds to look for acquisitions.

He said: “The funding from OakNorth Bank will allow us to continue scaling the business further through potential acquisitions, as well as by strengthening our investment offering, helping us to build more long term relationships with our clients.”