PracticeWEB, which is based in Bristol, creates websites for accountancy firms and it is hoped the acquisition will make it easier for Financial Planning firms and accountants to work together.

IFA Systems has been developing websites for Financial Planners and offering them web-based tools for over 10 years.

Diana Baker, current owner of IFA Systems said: “We are confident that we have found a company that can offer our clients the high level of service they expect.

“Everyone at IFA Systems is looking forward to working with the team at PracticeWEB to develop new services that will help financial advisers use the internet to provide a better and more effective service for their clients.”

Ms Baker will remain in her role for the next six months before retiring.

Richard Sergeant, managing director of PracticeWEB, said: “Extending our reach into the IFA market space makes sense for our products and services because we understand that, like accountants, they are essential advisers.

“The cultural fit of IFA Systems gives us a fantastic opportunity to extend our client base and expand our existing offering around websites, content and technology.”

The 400 IFA Systems clients will be moved across to the PracticeWEB service gradually over the next 12 months to minimise disruption to the service.