Rapidly expanding Financial Planning-focused advisory group Independent Wealth Planners (IWP) has acquired Throgmorton Wealth Management in its 30^th acquisition deal.

Throgmorton is based in East Anglia, Lincolnshire and the East Midlands. It has £135m in assets under management and 500 clients.

Founded by Jason Cross and Chris Bayfield in 2003, it provides Financial Planning, wealth management and mortgage services for individuals, companies and trusts.

The deal, for an undisclosed sum, is the 30^th acquisition for IWP since its formation in 2019. IWP has 14 regional offices across England, Scotland and Wales and assets under management of over £6bn.

The group has around 120 advisers and 400 staff.

Other recent acquisitions for IWP include a trio of firms in November: £260m AUM Southport Chartered Planning firm Premier Wealth Management, north-east Scotland based Alex M Grant with £290m in client assets, and £72m assets under advice Surrey-based Custodian Wealth Management. 

David Inglesfield, chief executive at IWP, said: “Our goal on forming IWP was to build the UK’s best financial advice and wealth management service. Reaching our 30th acquisition less than three years after our inception is a significant milestone and puts us well on track to reach our target of 50 firms by 2025.

“We believe the UK has some truly excellent independent financial advice firms, and with the backing of IWP, we can replicate the expertise throughout to deliver a consistent, best of breed service to many more individuals and businesses across the country.” 

In 2016 Throgmorton acquired Holmes Investments, with David Guntrip joining the management team.

Throgmorton founder Jason Cross will remain CEO of Throgmorton with Mr Bayfield and Mr Guntrip as directors. All other staff, including four financial advisers, will remain with the firm under the deal.

Mr Cross said: “At Throgmorton, we have always believed that client care is central to our success and we feel IWP’s business model allows us to continue providing the outstanding service we are known for.

“Over nearly two decades, we have established ourselves as one of East Anglia’s leading independent financial advisers and, with the backing of IWP, we look forward to continuing to grow our presence and take excellent financial advice to more clients across the East Midlands.”