Growing consolidator IWP acquires south west firm in fifth acquisition of 2020

The Cornwall firm has been serving clients for more than 60 years. Two advisers work at the firm, handling a total £70m assets under advice.

The move marks IWP's tenth acquisition and its fifth of 2020, having already acquired Lancashire IFA Prosper Wealth Management, Scottish firm AGL WM in February, and Clairville York and Richmond House WM in June. 

IWP is a relatively new player in the sector. In 2020 it announced its intention to launch a national brand, with a plan to establish a nationwide presence with about 50 offices and businesses. In November 2019, it said it was in active discussions with more than 20 local IFA firms.

Westinsure Webb will join IWP's south west regional hub, Kelsall Steele Investment Services. CEO Henry Clayton will continue to lead the firm until the integration has completed.  

Clayton said: "We have always believed in putting our clients first, and that is why Kelsall Steele Investment Services and the personalised and regionalised approach of IWP was the natural fit for us. As part of IWP we are also excited to access the opportunity both with the brand and its central support and resources, these will enable us to grow whilst keeping our focus on our clients."

Kelsall Steele CEO Wes Nixon added: "We are thrilled to welcome Westinsure Webb to Kelsall Steele Investment Services and the wider IWP group. This acquisition marks the first step in our growth plans to build IWP's south west hub into a £500m true financial planning business."

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