Harwood buys adviser network for £4m

Network posted £24k pre-tax loss

Carmen Reichman
clock • 1 min read

Discretionary wealth firm Harwood Wealth Management has bought adviser network Network Direct (NDL) for £4m, in a bid to expand its reach across the UK.

Wolverhampton-based NDL has 107 advisers operating nationwide with assets under influence (AUI) of £1bn. The acquisition was Harwood's biggest deal to date and will bring the firms' combined AUI to £3bn. Harwood paid £1m in cash, with the remainder payable based on the performance of NDL over the next 5 years. It estimated it will inject a further £250,000 of capital at completion to ensure capital adequacy post-acquisition. Harwood plans to grow the company by extending its provision of investment and pension advice, management and administration to the clients of NDL. For t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Investment platform TILLIT to shut down

Investment platform TILLIT to shut down

No new accounts can be opened and it will close on 12 September

Sorin Dojan
clock 26 June 2025 • 1 min read
First Wealth on hunt to acquire like-minded financial planning firms

First Wealth on hunt to acquire like-minded financial planning firms

Follows significant financial backing from Marlborough

Jenna Brown
clock 24 June 2025 • 5 min read
Openwork in growth push with partner firm Milecross acquisition

Openwork in growth push with partner firm Milecross acquisition

Makes first investment into one of its partner firms

Jenna Brown
clock 19 June 2025 • 2 min read