Private equity-funded Radiant has acquired the assets and goodwill of Ethos Financial Solutions, which has £300m in AUA, for an undisclosed sum.

Radiant will also acquire Ethos’ 18 members of staff, including 5 advisers.

The deal boosts two year-old Radiant’s staff numbers to 150 and assets under advice to £1.6bn.

Last September IFA consolidator Radiant acquired three adviser firms: Irvine Financial Services of Barnstaple, Landmark Financial Planning of Oldham and Andrew Gibbs IFA of Henley-in-Arden for undisclosed sums. The deals added a combined £325m in assets under advice.

Radiant was established in 2020 and is led by CEO Simon Cogman-Hellier, who has more than 40 years’ experience in financial services, and former Old Mutual vice-chairman and Skandia CEO Peter Mann. Mr Cogman-Hellier was previously interim managing director of Bluefin Personal Consulting, formerly part of AXA. He was also managing director of IFA Oval Financial Services, between 1993 and 2007, before its sale to Gallagher.

The Ethos deal is Radiant’s first in Yorkshire and Radiant says it plans to “expand significantly” in the region using Ethos as a hub. The company is also seeking further acquisitions elsewhere in the UK.

Will Palmer, director of Ethos, said: “It has been a long search to find a company to be part of that we really feel comfortable with. We are confident that joining Radiant will offer our fabulous staff both security and career development. Our clients, whom we value highly, will get continued stability and genuine Independent Financial Advice and service they can trust.”

“Myself and the team are excited to become part of the Radiant Team and look forward to a colourful future.”

Mr Cogman-Hellier said: “We’re extremely happy that the Ethos team has chosen to partner with us. They are an extremely well-run business, with a strong team of extremely well qualified staff.”

“We are really impressed with the business and believe they are an excellent fit in helping us provide client-centric advice and exceptional delivery as we look to expand across the North of England.”

Radiant Financial Group is registered in Jersey but based in Market Harborough. It is funded by private equity firm Apiary Capital LLP.