Brooks Macdonald Group has announced its plans to buy Warwickshire-based IFA Integrity Wealth (Holdings) Limited, subject to regulatory approval.
The deal, which will see the IFA’s subsidiary Integrity Wealth Solutions Limited also join, will add £250mn funds under management and 800 clients to the group.
It will be funded through existing financial resources and will be paid in two tranches, with part of it linked to a three-year growth target.
Based in Nuneaton, Integrity Wealth Solutions specialises in advising business owners, high-net-worth individuals and their families across the country, particularly the Warwickshire, West Midlands and Leicestershire area.
As part of the deal, Integrity’s managing Director Martin Lindsey will continue to lead the team at its solutions business, alongside taking up a broader role in Brooks Macdonald as senior financial planning director and head of advice.
“We have been successful in growing Integrity Wealth Solutions at pace, providing high-quality financial advice to our clients”, he said.
“Having found success as an independent firm, we are excited at the opportunity to benefit from the support and infrastructure of a larger company, one that matches our unwavering commitment to delivering value for our clients, and one where we believe we can continue to build our capabilities for the future.”
The group said Integrity Wealth Solutions’ clients will see no change to their products and services.
Brooks Macdonald chief executive officer Andrew Shepherd said: “Martin Lindsey and his team at Integrity Wealth Solutions have been valued introducers to our UK investment management business since they launched in 2013.
“It is particularly pleasing we have been at their side from their inception and have seen them become the success they are today, ready to accelerate that progress with Brooks Macdonald.”
Shepherd added: “An integral part of our proposition is to offer successful IFA partners like Integrity Wealth Solutions an opportunity to become part of a larger wealth management firm, adding both scale and capability, when the time is right for them.”
sonia.rach@ft.com
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