Financial Planner and wealth manager Saltus has acquired £400m AUM Herts-based Financial Planning firm Delta Financial Management.

The deal is the latest in a wave of acquisitions by £7bn AUM Saltus as it drives to expand the business.

Delta advises more than 500 clients with a focus on business owners, media and entertainment industry clients and airline professionals.

The firm was founded in 1980 and offers bespoke planning through a team-based approach.

Saltus says the deal, for an undisclosed sum, is part of Saltus’ long-term strategy of expanding its Financial Planning capabilities by acquiring “high-quality, client-centric businesses.”

The addition of Delta also strengthens Saltus’ presence in Herts.

The integration process is expected to complete within 12 months. Delta’s team of nine will remain in place, with directors Jarrod Ellis and Amin Malik becoming partners at Saltus.

Michael Stimpson, growth partner at Saltus, said: “Delta is a high-calibre business with a strong advice-led culture, excellent financials and a clear commitment to delivering long-term value to clients. This acquisition is a natural fit for Saltus and aligns with our ambition to grow by partnering with firms who share our values and focus on client outcomes. We are delighted to welcome the team to Saltus.”

Amin Malik, director at Delta Financial Management, said: “We are proud to have built a business rooted in integrity, technical excellence and genuine care for our clients. Saltus shares that philosophy and brings additional scale, capability and investments in technology that existing and future clients will certainly benefit from. We’re excited about what we can achieve together in the years ahead.”

Saltus started life as an investment management firm in 2004 with Saltus Financial Planning launched in 2015. The group employs more than 300 people who look after over £7bn for our clients.

In February Saltus bought Newcastle-based Financial Planning firm Lowes Financial Management for an undisclosed amount.

Last October Saltus paid up to £37.75m to acquire Tavistock’s financial advice businesses, Tavistock Partners Limited and Tavistock Partners (UK) Limited, including the Abacus and Duchy brands.