West Midlands-based Financial Planning firm Newell Palmer has acquired Bromsgrove-based IFA Haven Financial Services.

The takeover is the fifth acquisition for Newell Palmer in 2017 and means Haven’s clients will be serviced by Newell Palmer’s nearby Bromsgrove office. The deal, for an undisclosed sum, was arranged by IFA firm broker, ‘Tomorrow – The IFA Broker’.

Newell Palmer says it has more than quadrupled its Funds Under Management in the last five years through acquisition and referrals. It hope to finalise two more acquisitions before Christmas.

Newell Palmer Finance director Kevin Homfray, said: “We are delighted to complete the deal on Haven Financial and continue our expansion strategy. Newell Palmer has two further acquisitions lined up this side of Christmas, with more on the horizon throughout 2018.”

Paul Mallinson, principal of Haven, said: “I’m pleased to have concluded the deal and I would like to thank Kevin and his team at Newell Palmer for keeping the process straightforward, and to ‘Tomorrow’ for their role in brokering the deal.

“I chose Newell Palmer after being left reassured by the number of acquisitions they have completed in recent years, and I’m confident my clients are in good hands which is very important to me.”