Wealth manager and Financial Planner Liberate Wealth has acquired £275m AUM Somerset-based Financial Planner Stafford House Investments for an undisclosed amount.

The deal increases Liberate Wealth’s total AUM to £475m.

The acquisition is Liberate’s second purchase after snapping up Yorkshire-based Ebor Financial Planning in October.

Stafford House Investments was founded in Taunton, Somerset in October 1999 and is led by chief executive Nick Webb and director Andrew Mayne.

They and their team have spent more than 20 years’ specialising in full-suite Financial Planning and tax services for private clients, trustees, solicitors and accountancy firms as well as providing bespoke portfolio management services.

Liberate, led by former EQ Investors joint chief executive Mark Howlett, is hunting for more Financial Planning firm acquisitions. Mr Howlett has spent 35 years in the industry working in a range of Financial Planning, employee benefits and pensions roles. He founded Liberate in February 2022.

Stafford House will rebrand to the Liberate Wealth corporate identity, giving the firm a regional cornerstone and platform to pursue nationwide growth plans.

Mr Howlett said: “It is a hugely exciting time for us as we establish our second location in the South West region – an area we believe to be full of opportunity for the long-term growth of Liberate Wealth.

“It is particularly satisfying to emerge as the successful candidate in a highly competitive tender process – Stafford House commands a strong reputation and track record in its own right.”

He said building a new advice firm from the ground up means the firm has the freedom to innovate and ensure its business is ready to meet the challenges facing the modern adviser as well as their clients.

He added: “With the support of our patient capital investors, I am looking forward to bringing our proposition to advisers across the UK who are thinking about how to evolve their business.”

Nicholas Webb, chief executive of Stafford House Investments, said: “Liberate Wealth were an outstanding candidate during the tender process and clearly demonstrated the advantages of their infrastructure, depth of experience, entrepreneurial growth strategy and supportive culture.”

Liberate’s senior leadership team is running the business in line with B-Corp requirements while their application to become a registered B-Corp firm is processed.