London Chartered Financial Planner First Wealth has acquired Accumulate Wealth Management (Kent) for an undisclosed sum.
Under the terms of the deal, Chartered Financial Planner and Accumulate founder Geoff Airey will stay on through a transition period.
He will manage the change in leadership which will see Accumulate clients and staff move under the First Wealth brand.
Accumulate was founded by Mr Airey in Halstead, Kent, in 2013.
The deal with First Wealth was part of a succession plan for Mr Airey who was looking for a home for his clients, some of whom had been with him for over 20 years.
He said: “Accumulate Wealth Management (Kent) has always been about the people we work with and the people we work alongside. Seeing this succession through myself is important to me, and we’re looking forward to delivering it with First Wealth.
"For our clients today, their relationships and financial plans will continue, and I’m sure they will feel as confident as I do about what comes next.”
First Wealth was introduced to Accumulate via specialist M&A intermediary Chapters Financial. Simon Bourke, founder and managing director of Chapters Financial, said his team had been looking for the right fit for Accumulate for two years.
First Wealth is a London-based B Corp-certified Financial Planning firm founded in 2009, managing around £740m for approximately 840 clients and their families.
In August First Wealth launched a donor-advised charity fund to establish a framework for the firm’s philanthropy.
It will be known as the First Wealth Foundation, the firm said.
It has been established with the Together Charitable Foundation, an organisation which helps Financial Planning firms set up donor-advised funds. Together will provide the administration and governance to facilitate charitable giving from First Wealth.
First Wealth said it has committed to supporting four charitable organisations through contributions and fundraising each year through its foundation. It said it aims to build long-term relationships and support its chosen partners, not just hand out donations.