London and South-focused Craven Street says the deal is part of its long-term growth plans.

As part of the deal, due to be completed at the end of February, Punter Southall will also increase its minority stake in Craven Street Wealth.

Punter Southall was a founding investor in Craven Street sand says it will continue to back the firm's growth strategy.

The move will expand Craven Street’s footprint in the south of England and will add offices in Oxford, Bedford and Poole to existing offices in London, Canterbury and Horsham.

Total staff numbers will rise to 90.

The acquisition will also expand the range of services available to Craven Street clients, including a wider investment choice.

Tom Barnett, managing director of Craven Street Wealth, said the deal would combine two “like-minded” Chartered Financial Planning firms.

He said: “We are delighted to be welcoming a like-minded Chartered Financial Planning business into Craven Street Wealth, a practice recognised by clients and peers alike. This announcement is a further, concrete step towards meeting the growing demand for what we offer.”

Steve Butler, CEO of Punter Southall’s Aspire business, which included the Financial Planning arm, said: “We know our clients will be in good hands as Craven Street Wealth share our commitment to building long-term relationships now and in the years to come. Creating this bigger yet personalised business means an even better service for them.”

He added that clients would continue to work with their existing advisers and support teams from the same offices. The Punter Southall Financial Planning management team will transfer to Craven Street.

Shawbrook Bank provided the funding for the deal while Ashfords advised Craven Street in on debt facilities and the acquisition. Thistle Initiatives provided compliance support.

Craven Street Wealth advises on £1.2bn of client assets from offices in Canterbury, London, and Horsham. The business was established through the 2021 acquisition of Kreston Reeves Financial Planning and Christchurch Investment Management.

Craven Street has grown since launch organically and through acquisitions, including the acquisition of Tarvos Wealth in 2022 and Bernard Barrett Associates in 2023.

Following the completion of the deal, the enlarged Craven Street Wealth business will have over 90 staff and six offices across London and the South.

Craven Street Wealth is a subsidiary of Craven Street Group, which also includes the corporate finance business Craven Street Capital.

Actuarial consultancy Punter Southall offers employee benefits and independent trustee and defined benefit pensions consultancy. It also has new ventures in insurance and law.