Bristol-based wealth manager and Financial Planning firm Clifton Wealth Partnership has acquired two more Financial Planning firms for undisclosed amounts.

The acquisitions of Grovebridge Financial Ltd and Clifton Business Consultancy have added £146m in assets to the acquisitive wealth management firm.

Grovebridge Financial is based in Bingley, West Yorkshire. It has been providing Financial Planning services to 200 families in the Yorkshire area for a decade.

Director and Chartered Financial Planner Paul Smith will continue with the business while fellow director Hilary Stephenson is retiring.

Bristol-based Clifton Business Consultancy has been offering financial advice to business owners for 16 years. Company director Michael Lloyd will be retiring while fellow director Bob Thomas will be staying with the business.

Michael Lloyd said: “Building this business has been one of the greatest accomplishments of my life, and I am proud of what we’ve achieved together.

“As we looked toward the future of the company, we thought long and hard about who we could trust to carry on the values and service standards we’ve worked so hard to uphold. After careful consideration, we are confident in our decision to align with CWP.”

Clifton Wealth Partnership is a Financial Planning and wealth management business formed in 1986 and is part of the Bristol-based Clifton Group, which has more than 12,000 clients, 120 employees and more than £2.5bn in assets under management. It has a 25-strong, Financial Planning team. The business has completed 13 acquisitions since 2019, 11 of which took place after July 2022.

Anthony Carty, managing director at Clifton Wealth Partnership, said: “Selling your business is one of the toughest decisions you’ll ever make. Our job is to give financial planning firms absolute assurance that both their clients and team will continue to receive the best support as part of the CWP family." 

In March 2023 CWP acquired seven Financial Planning firms in England and Wales, adding £500 in assets and 25 team members.

In April 2023 it acquired West Midlands Chartered Financial Planner firm GB Financial Services.

In October 2022 it acquired Caerphilly-based financial advisers Mark Philips Ltd.

In September 2022 it acquired Gloucestershire-based financial adviser Noble James Associates.

In July 2022 it acquired Aberdeen-based wealth manager and IFA Burnett & Reid Wealth Management.

Last October UK private equity firm CBPE Capital LLP made a “strategic investment” in the firm to be partly be used to speed up Clifton's acquisition programme.