MKC Wealth is backed by private equity firm Cabot Square Capital
Private equity-backed wealth manager MKC Wealth has acquired four independent financial advice firms for undisclosed sums.
MKC has acquired: Money Flow, Goldcrest Financial Planning, Berg-Davies Associates and Sherpa Financial Solutions, ahead of their principal advisers retiring.
Norwood-based Sherpa Financial Solutions was set up by Shaun Stentiford in 2016. Mr Steniford, who has 34 years’ experience in the industry, will support the transition of clients to MKC Wealth before retiring.
Suffolk-based Berg-Davies, of Stowmarket was founded 14 years ago by Roger Davies, who has some 42 years in the industry. Mr Davies will also retire after a transitionary period as clients transfer to MKC Wealth’s City of London office.
Surrey based Goldcrest Financial Planning was established by Charles Everingham in 2018 at Caterham-on-the-Hill. He will retire after a handover period after 44 years in financial services.
Kingston-Upon-Thames based Money Flow was set up by Roland Askew who has been advising clients since 1981.
Mr Askew chose to sell Money Flow to MKC Wealth after a recommendation from a previous seller.
He said: “Someone who had done a deal with MKC Wealth previously recommended the firm to me. I met the team and was really impressed with their approach to supporting my clients. We did the deal earlier this year and the transition of clients to MKC Financial Planners has gone exceptionally well and I am delighted with the progress.”
Dominic Rose, CEO of MKC Wealth, said: “We continue our measured growth by acquiring small businesses of experienced IFAs, who have decided to practice what they have preached and retire after many years of hard work.
"Their number one priority is to ensure that the clients continue to receive the best possible advice and service in the future. These founder-owners have spent significant time thinking about the best way to achieve this. They all had many suitors, and we are delighted that they have chosen to partner with MKC Wealth after much due diligence.”
The acquisitions are the latest in a series of deals for expanding wealth manager MKC Wealth, bringing the total number of deals for the year to date to seven.
In April it acquired £120m AUA adviser Yodelar Investments Ltd and online platform Yodelar.com for an undisclosed amount.
MKC, backed by private equity firm Cabot Square Capital, has acquired several Financial Planning firms in recent years including Stockport-based IFA Warr & Co Independent Financial Advisers and Halstead Independent Financial Management of Urmston, Manchester in November 2024.
In May 2024 it acquired two adviser firms: Dartford-based Gibson Lamb and Mulberry Financial of Macclesfield for undisclosed sums.
In February 2024 it acquired London-based Financial Planning Firm Wealth for Women for an undisclosed sum and in December 2023 it acquired Buxton-based Crescent Independent and the client base of Bury-based IFA Christine Brearley.
