The acquisitive St Albans-based Chartered Financial Planner Lumin Wealth has acquired South East financial adviser Ashridge Financial Management – its third takeover in two years.

Chartered Financial Planner Tom Barnett has been promoted to be managing director of two wealth management and Financial Planning firms with £1bn under management and advice.

Increased consolidation among Financial Planning firms could create a more sustainable profession, according to a number of Financial Planners.

St Albans-based Financial Planning firm Lumin Wealth has merged with Swiss financial services provider VZ Group in order to boost organic growth and acquisition activity.