MKC will effectively acquire the IFA arm of Samuels as part of the deal.

MKC Wealth is backed by Cabot Square Capital - the owner of Key Retirement Solutions and other businesses - and has been expanding in recent years, mainly through acquisition.

In July MKC acquired Genius Wealth Management of Cheshire for an undisclosed sum. In March MKC acquired veteran London IFA Anthony, Bryant & Company. MKC also acquired the advice arm of the troubled Lighthouse group from Quilter last year.

MKC Wealth will provide Financial Planning services to clients of Samuels, a firm mainly based in London and the South East.

Until now, clients of Samuels were offered advice services by an in-house adviser who has now retired. The IFA clients of Samuels are now being served by MKC following the acquisition of this part of Samuel’s business.

Dominic Rose, CEO of MKC Wealth, said: "We are the preferred financial advisory partner for a number of accountancy practices which have chosen to focus on their core business in the face of increasing financial services regulation.

“This transaction facilitates the continuation of advice and service to Samuel’s clients following the retirement of their in-house adviser, whilst enabling us to be a trusted partner for their future clients’ needs."

Sam Narula, senior and founding partner of Samuels LLP, said: "With our in-house IFA approaching retirement, I was determined to make sure our clients continued to receive the best possible advice.

“Our initial search proved fruitless as I found the sausage factory approach of the people who wished to acquire our IFA clients business very disappointing.”

"I considered MKC's approach refreshing. Their ethos matched our own. Tightening regulation and compliance makes it imperative that the services offered to our clients must be of the highest professional standards and that is why we were keen to partner with MKC Wealth.”