Chartered Financial Planner Lumin Wealth has acquired B W Financial Consultants Ltd, a Financial Planning firm based in Penn, Buckinghamshire for an undisclosed amount.

The deal will add £95m of assets under management to the Lumin VZ Group and is the firm’s eighth acquisition since 2019.

Lumin Wealth is a financial advice and discretionary fund manager firm, with offices in St Albans, London and Cambridge which has been busy on the acquisition trail in recent years.

In July it bought the Big Picture Wealth Management, a financial adviser based in Ongar, Essex, with £85m in assets under management. 

In June the firm bought Dorset-based mortgage adviser Davidson Deem for an undisclosed amount.

Lumin acquired South East financial adviser Ashridge Financial Management in June 2022 and Hertfordshire-based financial adviser Enhance Wealth Management in March 2022. It acquired Hertfordshire IFA firm Chamberlain Stean and West in 2021 and London Financial Planner Everett MacLeod in 2020.

Lumin said it provides a long-term and stable home for advisers and their clients who are looking for an alternative to the many private equity solutions in the marketplace. It said the latest acquisition builds the firm's strategy of partnering with like-minded advisers.

Martin Cotter, managing director of the Lumin VZ Group, said: “Jeremy is a highly experienced Financial Planner and has built a very successful business during his long career in the industry. Jeremy’s expertise and commitment to providing clients with high-quality personalised financial advice aligns perfectly with our values.”

Jeremy Blakeley DipPFS, director at B W Financial Consultants, said: “This partnership will enable us to leverage their extensive resources and technology, allowing us to enhance our service offerings.

“Being part of a larger organisation will provide myself and my team with a wide network of support to ensure that we are delivering the best possible advice to our clients amid an increasingly complex regulatory environment.”

Lumin was founded in 2010 by Martin Cotter and John Cusins. It merged with Swiss financial services provider VZ Group in May 2021.