Expanding Nottingham-based Financial Planning firm Wren Sterling Group has acquired the trade and assets of Oxford-based Critchleys Financial Planning LLP from accountancy firm Critchleys LLP for an undisclosed sum.

The deal will add £150m of assets to Wren Sterling and will see the Critchleys Financial Planning team join Wren, working from a new Oxford hub.

The Critchleys Financial Planning LLP team is led by Jason McGuigan who will join Wren Sterling along with his colleagues and Critchleys’ Financial Planning clients.

Critchleys LLP says it will maintain links with Mr McGuigan’s team at Wren Sterling Group by providing accountancy and tax services to selected clients.

Critchleys Financial Planning is an Oxford-based financial adviser. 

The deal represents the second acquisition for Wren since recent investment by Lightyear Capital.

Wren Sterling Group provides specialist Financial Planning advice to private and corporate clients.

Critchleys Financial Planning team looks after about 300 households and £150 million of assets under management.

The transaction is Wren Sterling’s second deal recently after it acquired Mutual Financial Management in early June. Together Mutual and Critchleys Financial Planning add a total of £825m of AuM to Wren.

Wren Sterling says the rebranded business will give it a new hub in Oxfordshire to add to its eight other locations around the UK. It plans to make further “bolt-on” acquisitions from these hubs by acquiring “culturally-aligned businesses” as hub locations in key areas such as London, Edinburgh, Birmingham and Bristol as well as smaller bolt-on acquisitions to existing hubs.

James Twining, Wren Sterling’s chief executive said: “I’m delighted to welcome the Critchleys Financial Planning team and their clients to Wren Sterling. Jason and the team have done a phenomenal job for their clients over the years, building a business of ambition and excellence that perfectly aligns to our own approach.

“The UK IFA market encompasses many excellent businesses deciding that now is the time to look for new investors, either to facilitate their own retirement or because they see that their clients stand to benefit significantly from the support of a larger organisation in the face of mounting regulatory, operational and technology costs and complexity."

Jason McGuigan, Critchleys Financial Planning's principal Financial Planner, said: “It was important to us, when considering our future, that we partnered with an organisation that shared our core values of putting the client at the heart of everything we do. It was clear from our very first meeting with Wren Sterling, that this is central to their DNA.

“Thanks to our new partnership, we will be able to strengthen our offering to clients and continue to develop and invest in our people.  We also have the exciting opportunity to expand the business further through hiring and bolt-on acquisitions in the Oxford and Thames Valley regions.”