Acquisitive South Coast-based wealth manager and financial adviser Skerritts has acquired £230m AUM Financial Planning firm Chadwick McLean, which is based in Chester.

Skerritts says the deal, for an undisclosed sum, provides it with a presence in North West England as the group looks to accelerate its expansion in the region and nationally.

Skerritts is a chartered financial adviser and wealth manager based in Hove.

In March 2021, private equity firm Sovereign Capital Partners, invested £55m in Skerritts to develop the business through organic and acquisitive growth. The strategy has seen new offices added in Kent, Hampshire and London.

The Chadwick McLean takeover increases the number of deals that the Skerritts Group has completed since the Sovereign investment up to eight. It is also the second deal since CEO Paul Feeney, formerly CEO of Quilter, arrived at the firm as CEO.

Mr Feeney said: “I am delighted to welcome the great team at Chadwick McLean to the Skerritts family. This takes us one step closer to achieving our mission of becoming Britain’s premier Chartered Financial Planner.”

John Chadwick, director of Chadwick McLean, said: “I have spent some considerable time looking thoroughly at potential companies that could ensure that we are fully resourced and are able to continue to offer the full range of services to our clients. It was obvious that Skerritts are the best choice for the safeguarding of our clients’ financial future.

“I will be continuing my career leading my workplace training company, Planned Future Wellbeing, and we will remain closely associated with Skerritts, providing financial education services to employees throughout the UK.”

In September Skerritts Group acquired Kent-based Chartered Financial Planning firm Ambrose Fisher, adding £62m in assets under management to the group.

In 2022, Skerritts completed four acquisitions, adding offices in Kent, Hampshire and London and about £560m of AUM.

In January this year, another acquisition was announced with the purchase of Kent-based Financial Planning Firm, Equinox Wealth Limited, which brought another £62 million of AUM.

In March Skerritts acquired Horsham-based Financial Planner Mercier Allen & Associates, adding £73m of assets under management. 

Skerritts has about 50 staff serving 35,000 clients.