Bestinvest Holdings has acquired the financial services arm of chartered accountants giant Haines Watts (HW) to create a combined group servicing more than 70,000 clients and managing about £4bn of client assets.
Bestinvest says the strategic partnership with fee-based HW Financial Services (HWFS) provides it with a national network of IFAs while HWFS will be able to offer clients Bestinvest's investment solutions.
HWFS will keep its brand name while the combined group will also employ more than 150 staff in 20 locations across the UK.
Richard Dawes, HWFS managing director, says: "The combination of both organisations will ensure our clients continue to receive the best possible financial planning from our team, backed up by an award winning investment proposition."
Bestinvest chief executive John Spiers adds: "HWFS has an excellent client base and a team of highly skilled and experienced consultants. We welcome the prospect of being able to offer face-to-face advice to some of our clients nationally through the HWFS network."
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