MKC Wealth signs former Tenet firm as part of double deal

Crescent Independent and clients of Bury IFA acquired for undisclosed sum

Hope Coumbe
clock • 1 min read

MKC Wealth has acquired an advice firm in Derbyshire along with the client bank of a Bury-based IFA, it announced today (12 December).

The City of London boutique wealth manager and consolidator paid an undisclosed sum for Buxton firm Crescent Independent, as well for the clients of retiring IFA Christine Brearley. Crescent Independent was an authorised representative (AR) of Tenet and currently services about 188 households with a combined £70m of assets. Founders Steve Penn and David Brooks said: "We built up our business entirely by word of mouth, initially advising private clients and then adding a significant number of corporates. Over the last year we have been planning a smooth succession before we retire. "...

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