Wealth manager and Financial Planner Titan Wealth has acquired £590m AUA Chester-based Financial Planning firm Innes Reid Investment Limited, for an undisclosed amount.
The acquisition is subject to regulatory approval.
Innes Reed will become part of the Titan Wealth Group and bring around 2,500 clients and 10 advisers to Titan’s business in the north west of England, the firm said.
The Chester firm was founded in 1999 by Mark Reidford to provide Financial Planning advised solutions to a diverse client base, including high net-worth individuals, business owners and retirees.
Mr Reidford, managing director of Innes Reid, said: “This acquisition is a positive step in strengthening the long-term sustainability of Innes Reid. It allows us to enhance the support, resources and infrastructure behind our advice, ensuring we can continue delivering positive client outcomes.”
Andrew Fearon, joint group CEO and head of M&A at Titan Wealth, said: “We’re excited to welcome the experienced Innes Reid team. We’re looking forward to strengthening our Financial Planning advice in Chester and the surrounding area.”
He said the acquisition boosts Titan’s regional footprint in the UK and strengthens the firm’s ability to deliver locally-based relationships for clients.
Titan Wealth has been busy on the acquisitional trail in recent times.
It also launched a dedicated sports division in partnership with global business Premier Sports Network. The division targets elite athletes and executives with bespoke financial services, education, and career transition pathways.
Titan Wealth was formed in 2021 and serves clients domestically as well as overseas through its operations in the Channel Islands and the UAE. Titan Wealth has approximately £36bn of assets under management or advice.