Private-equity backed MWA Financial has acquired Wiltshire-based Hawthorn Financial Services for an undisclosed amount.
The London-based firm said it has an ongoing ambition to build a national advice and planning business.
The latest acquisition, adds a client base of more 70 families to the group and will see Hawthorn founder Derek Avenell join MWA as an adviser with immediate effect.
Cam Banks, MWA chief executive, said: “Hawthorn Financial Services is a tremendous business with a high-quality, loyal and long-standing client base. We are thrilled to welcome Derek to MWA and are looking forward to what we can achieve together.”
Mr Avenell said: ''I am a big fan of what Cam and the team are doing and how they approaching the advice market in the UK. It is great to be part of the MWA team and able to make the most of all that brings for our clients.''
Following the acquisition, MWA Financial Advice now serves nearly 2,500 clients across several UK locations overseeing approximately £950m of AUA, supported by more than 50 staff.
MWA Financial was founded in 2016 by Mr Banks with the aim of building a leading UK financial advice business centred on holistic planning and long-term client outcomes.
Ed Rosengarten joined as executive chairman in 2021 to help execute the group’s growth strategy. He had previously had senior leadership experience at firms including Smith & Williamson and M&G, where he was chief executive of the firm’s equity business.
The latest deal was completed with the support of Frontier Development Capital (FDC) and Coniston Capital, whose investment in MWA in 2023 provided the long-term growth capital required to support the group’s acquisition strategy.