Expanding Nottingham-based Financial Planner Wren Sterling has acquired Midlands-based Chartered Financial Planner HB&O Financial Services.

The acquisition is Wren’s third of 2022, with more deals in the pipeline.

In July it acquired Oxford-based Critchleys Financial Planning from accountancy firm Critchleys LLP.

Wren says the deal for HB&O, for an undisclosed sum, will boost its regional presence in the Midlands.

Leamington Spa-based HB&O Financial Services has more than 850 clients and 22 staff who will join Wren. Among its staff HB&O employs five Chartered Financial Planners, two Chartered Paraplanners and mortgage adviser.

The deal is subject to FCA approval.

Wren says the acquisition will allow Wren Sterling to expand its presence in the region beyond its existing operations in Warwick.

HB&O has close links with accountancy firm Harrison Beale & Owen Limited which will be retained. HB&O Financial Services is a trading name of D A Owen Financial Services Limited.

James Twining, Wren Sterling’s CEO, said: “I’m really excited about bringing HB&O Financial Services into the Wren Sterling Group. Jason and his team share our values, demonstrably delivering high levels of client service through their Chartered status. 

“We’ve already made three strategic acquisitions this year with further deals to follow.  This is accelerating our growth, bringing fresh ideas into the business, and giving us real presence in key geographic locations.

“The West Midlands, and in particular Warwickshire, has huge potential which we can now tap into alongside the HB&O Financial Services team.”

Jason Strain, managing director of HB&O Financial Services, added: “Joining the Wren Sterling Group is a logical next step for our business after years of building under our own steam. The opportunity to benefit from the scale and quality of Wren Sterling’s central operational, finance, HR and compliance resources is really appealing as it frees up time for us to concentrate on doing what we love most – servicing clients.

“We recognised the same cultural traits in our businesses, which is important to me and my staff, and thanks to the strong synergy between our operating systems and the support of Wren Sterling’s dedicated integration team, we don’t anticipate any disruption to client service.  In fact, we expect our clients to be able to benefit from being part of the broader Wren Sterling Group.”

Wren Sterling Group is a national firm of Financial Planners with nine UK offices and around £5.4bn in assets under advice.  It is backed by private equity firm Lightyear Capital.