Wealth and investment manager W1M has acquired rival Vermeer Partners, which has more than £2bn in AUM, for an undisclosed amount.

The transaction is subject to regulatory approval and is expected to complete in the spring.

It is W1M’s first acquisition since Waverton and London & Capital’s merger in July 2024 and the rebrand to W1M in June 2025.

W1M said it is now approaching £25bn in AUM, up from £18bn in June 2024, and net new asset growth of 7.5% over the last year.

Vermeer was founded in 2018 and has become a fast-growing independent wealth manager. It serves a network of HNWs, intermediaries, charities & trusts.

Vermeer said the deal offers its clients access to W1M’s investment capability, financial advisory services, international expertise and broader client propositions.

Guy McGlashan, CEO of W1M, said: “We are delighted to welcome Vermeer into the business and will ensure a seamless transition for their clients. Our priority will be to continue delivering outstanding service while introducing them to the broader wealth offering that makes W1M unique; something we believe will add immediate and lasting value.”

Simon Melling, executive chairman of Vermeer, said: “We are delighted to be joining W1M’s exciting journey.”

W1M was formed from the merger of wealth manager Waverton with London & Capital to form a £19bn AUM wealth management business in 2024.

London & Capital was established in 1986 as a specialist wealth and asset manager working with private and institutional clients. Based in London, it had more than £6bn in AUM 130 employees. Many of London & Capital’s private clients were international.

Waverton Investment Management Limited was headquartered in London, with offices in Edinburgh and Glasgow and had more than £11bn in AUM and 175 employees. The group included Waverton Wealth Planning LLP and Waverton Investment Management Ltd.