The financial planning and wealth management group, Finitor Wealth has bought two multi-adviser firms, Ascent Financial Consulting and Financial Management Bureau (FMB).
FMB is a second-generation family business with eight advisers in Kendal, Cumbria, and more than £250m of assets under administration (AUA). Ascent Financial Consulting is a three-adviser firm in Leamington Spa, with £190m of AUA. These two acquisitions bring Finitor Wealth's total AUA to over £1.1 bn, it said. Both businesses will maintain a high degree of autonomy and continue to drive their businesses forward, with support and expertise from Finitor, according to the firm. The deals were funded by private equity firm Rockpool Investments, which provides equity and loan financing to...
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