Wealth manager and Financial Planner Titan Wealth has competed its acquisition of IWP, adding £6.9bn of client assets and bringing the firm’s total assets to £44bn.
The deal, for an undisclosed sum, it the third for Titan already this year.
The acquisition has added IWP’s two trading businesses (IWP Financial Planning Limited and IWP Investment Management Limited) to Titan Wealth.
IWP will now be integrated into Titan Wealth, and will also work closely with Titan Wealth’s other financial advisory businesses, including Titan Wealth Planning.
Andrew Fearon, joint group CEO and head of M&A at Titan Wealth said: ‘Over the coming months we will be integrating IWP’s capabilities and services into the Group. Our extensive experience means we understand successful integration is more than using the same IT systems; it involves a process of aligning cultures and identifying how we can enhance our service offer to ensure better outcomes for our clients”.
Titan Wealth combines an independent financial advice offering with investment management and custody solutions.
London-based Titan Wealth was formed in 2021 and has four main divisions, platform, custody, discretionary fund management and Financial Planning. Its Financial Planning division is made up of Titan Financial Planning Ltd (formerly Goldsborough Wealth), Telford Mann Ltd and Prism Financial Advice Ltd.
In its announcement of the completion of the deal, Titan Wealth also said that it plans on further international expansion for later this year, as well as looking for more acquisitions in the UK and abroad.
Titan has been on the acquisition trail in recent times and earlier this month it announced a deal to acquire £600m AUA Plymouth-based Financial Planning firm Sound Financial Management Limited, for an undisclosed amount.
Earlier this month it acquired £590m AUA Chester-based Financial Planning firm Innes Reid Investment Limited, for an undisclosed amount.
In December it acquired £650m AUA Bath Financial Planning firm Morgans Limited, for an undisclosed amount.
In October Titan signed a deal to acquire £7.9bn AUM Channel Islands wealth manager Ravenscroft Investments Limited.
In October it struck a deal to acquire the £2.2bn AUM Blacktower group of companies, a significant player in the international advice market.
Titan Wealth was advised by Continuum Advisory Partners (sole financial adviser), White and Case LLP (legal), Deloitte (Financial DD) and Thistle Initiatives (Reg DD). IWP was advised by Jefferies (financial adviser), Proskauer (legal) and PWC (Financial DD).