St Albans Chartered Financial Planner firm Lumin Wealth has acquired Dorset-based mortgage adviser Davidson Deem for an undisclosed amount.

Lumin Wealth is a financial advice and discretionary fund manager firm based in St Albans and London.

The firm specialises in investments, pensions, inheritance and tax planning, as well as financial protection and mortgages.

The Chartered Financial Planning firm has been busy expanding in the last couple of years, including merging with the Swiss financial services provider VZ Group in May 2021 to boost investment and acquisition activity in the UK.

With this latest acquisition, Lumin now has more than 80 employees including financial advisers and support staff, serving over 3,000 clients with more than £1bn in assets under management.

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 was founded in 2010 by Martin Cotter and John Cusins.

Led by directors Peter Stokes and Brian Keane, Davidson Deem has secured mortgages since 1989. 

Mr Stokes said: “Over the past 12 months, we have carefully ensured this transition is seamless for our clients. Not only will they continue to have access to our mortgage services but they can also benefit from Lumin’s complete range of financial solutions, which spans everything from pensions and investments to retirement planning and protection.”

Davidson Deem was advised by KBS Corporate and its associate director Matthew Sibley.

Mr Sibley said: “Lumin has identified Davidson Deem as the ideal platform from which to build its own mortgage network. Peter and Brian have built a great business with strong financials and a large client base.”