Four advisory firms have been bought out by Financial Planning firm Attivo.
The wealth management group has taken over five this year so far and has a target of acquiring twelve by the end of 2015.

Lifetime Financial Partnership, based in North London, with over 180 Active clients, is among the businesses acquired.

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Attivo also takes over Morgan Fitzgerald, based in Worcester, and Pearson Financial Services based in Bracknell, which has over 180 active clients.

Hertfordshire company Porter DeVere, with 130 active clients, makes up the quartet.

No details of fees have been released by the company.

Stephen Harper, chief executive of Attivo, said the opportunity for takeovers had been presented by a generation of IFAs seeking retirement from the industry.

He said: "It's estimated between five to ten thousand advisers are at retirement age and we offer a respectful route for someone to retire.

"For someone who has built up a loyal and valuable client bank, it is incredibly important to them that they leave their business and clients to a firm that puts the needs of their clients first.

"As a Chartered Financial Planning business with our own DFM we are perfectly placed to offer Financial Planning and wealth management services built around clients' needs. It is also important that those IFAs who let us take over their client base understand and believe in our proposition.

"We want to have IFA's endorsement so their clients know that they will be properly looked after."

He added: "Clients are not, and do not want to be viewed as a commodity, and our different business model which focuses on their needs results in a 98% retention rate."