London-based Twelve Wealth Management (TWM) has acquired fellow St James’s Place partner firm Smith Hobbs Wealth Management for an undisclosed sum.

Smith Hobbs Wealth Management managing director and Chartered Fellow of both the CII and CISI, Matt Smith, will join TWM under the deal. He was previously a private banking and advice manager at Lloyds Bank.

Mr Smith said the deal with TWM would enable him to offer greater value to his clients.

He said: “This move represents an exciting opportunity to build on the foundation we’ve established at Smith Hobbs.

"TWM’s scale, expertise, and shared vision for quality advice and a personal service will enable us to deliver even more value and insight to clients as the financial landscape continues to evolve.”

Marc Norris, managing director of Twelve Wealth Management added that someone from the TWM would be in touch with all Smith Hobbs Wealth Management clients over the next few days.

Twelve Wealth Management is a London-based financial advice firm and member of the St James’s Place partnership. The firm has 13 financial advisers based in London’s West End. The firm offers Financial Planning services to both individuals and businesses as well as mortgage broking services.

Director and founder Mark Norris spent six years as a portfolio manager specialising in property investment before founding TWM as an appointed representative of St James’s Place in 2013. He specialises in tax mitigation, investment planning, pension planning and estate planning.