Chartered Financial Planner and wealth manager Bowmore Wealth has increased its Assets Under Advice (AUA) by £135m with the acquisition of two London financial advisers, DWA Protector Limited and Rogate Capital Limited.
The deals will boost independently-owned Bowmore Wealth Group’s total AUA to about £650m.
The firm says the acquisitions bolster its presence in London and the eastern end of the M4 corridor.
The acquisitions coincide with strong organic growth, the firm says. It is on course to add a £80m in AUA from organic growth in current financial year.
Rogate Capital advises individuals and families on investment and retirement planning. As part of the deal, client manager Daniel Easton will join Bowmore Financial Planning.
Bowmore says the acquisitions will allow clients of both firms to benefit from a broader integrated offering, including Chartered Financial Planning and investment management services.
Mark Incledon, CEO of Bowmore Wealth Group, said: “We are highly selective about the businesses we bring into the group and only proceed where there is a strong cultural fit and a shared commitment to delivering high-quality advice.”
“DWA Protector and Rogate Capital have built trusted relationships with their clients over many years and we are delighted to welcome them into Bowmore. These acquisitions strengthen the business while allowing us to maintain the independence and personal service our clients value.”
Bowmore Wealth comprises a Chartered Financial Planning practice and a fully authorised discretionary investment management business. It operates along the M4 corridor between Bristol and London and provides Financial Planning and investment management services to private clients, business owners and families.
Richard Powell, founder of Rogate Capital Limited, said finding the right long-term home for his clients was “incredibly important.”
Phil Povey, director at DWA Protector Limited, plans to retire after the takeover.