Applewood Wealth Management has written to 340 IFA firms in its region to gauge appetite for acquisitions or joint ventures.
Managing director Karl Hartey says the company is contacting businesses within a 60-mile radius, taking in the Shropshire, Cheshire and North Wales areas.
Applewood, which has four registered individuals, is targeting £100m of additional assets in the next year following the successful acquisition of Ravencourt Financial Services last November.
It says a deal with a Shrewsbury-based IFA with £20m in assets under management will likely be completed by the beginning of March.
"We are in the business of acquisitions and we can either do outright purchases or partner IFAs," Hartey says.
"There are a lot of good quality IFA firms out there but some lack certain systems and procedures and, if these firms don't want to be acquired outright, we can form joint ventures with them."
Applewood will bring in fresh advisers to support its growth strategy and Hartey says the current crop of available IFAs has never been so good.
"At the moment, there are a lot of really good advisers out there," he says. "Banks are not taking people on and reducing their workforce and there is an absolute abundance of quality."
Meanwhile, the head of Applewood welcomes the FSA's reduction to £1,000 its minimum fees for 2011/12, but he warns of other costs.
"Anything that reduces the cost of business is a good thing," he says. "But I'm concerned about levies in the future.
"We had to fill in a form about potential levies and we are not really sure what they will be based on or how much they will be. So we could see a situation where fees go down and levies go up."
Annuity market worth £4bn in 2017
For ‘distress’ caused
Oversees £30bn of advised and D2C assets
Less than a third of top paid employees are women
£1bn business since inception