The deal completed today having received approval from the FCA, taking Titan’s assets under management and advice to £17.3bn.

The cost of the deal has not been disclosed.

It is the latest in a series of acquisitions for Titan which has said it has a target to reach £50bn under administration within the next five years.

Prism is a long-established firm with 17 independent financial advisers and 25 support staff. It is based in Gateshead, Tyne and Wear and works with private and corporate clients. Nearly 70% of its 3,700 clients live in the North of England.

It was established in 2005 and provides a range of services including Financial Planning and advice on pensions, investments and protection.

Following today’s announcement of FCA approval, Prism is now fully incorporated into Titan Wealth.

This comes shortly after Titan Wealth received change of control from the FCA on its acquisition of Square Mile Investment Consulting and Research last month.

Andrew Fearon, joint group CEO & head of M&A at Titan Wealth, said: “This deal with Prism perfectly complements our recently-confirmed acquisition of Square Mile, with the former strengthening the group’s advice capabilities and the latter building our strength in asset management.

“Together, the deals help us further develop the group’s unique fully-integrated, client to custody approach. I really look forward to working with the Prism team in Gateshead going forward”.

Titan has acquired several financial and advice businesses this year including in June investment research and consultancy firm Square Mile for an undisclosed sum. Earlier in the year it acquired the UK investment management arm of investment services provider Ravenscroft for an undisclosed sum and in January it acquired Chartered Financial Planning firm Telford Mann for an undisclosed sum.

Titan is backed by Parthenon Capital Partners and Ares Management. Its management team includes James Kaberry, an entrepreneur and founder of Pantheon Financial Management and Andrew Fearon, founder of a major UK IFA consolidator.