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The acquisitive St Albans-based Chartered Monetary Planner Lumin Wealth has acquired South East monetary adviser Ashridge Monetary Administration – its third takeover in two years.
Lumin says the deal, for an undisclosed sum, will add greater than £85m of belongings underneath administration to the Lumin Group.
Earlier this 12 months Lumin acquired Hertfordshire-based monetary adviser Improve Wealth Administration.
It acquired Hertfordshire IFA agency Chamberlain Stean and West in 2021 and London Monetary Planner Everett MacLeod in 2020.
Final 12 months St Albans-based Lumin merged with the Swiss monetary companies supplier VZ Group to spice up funding and acquisition exercise within the UK.
Lumin, a Chartered Monetary Planning agency and discretionary fund supervisor, has places of work in St Albans and London and says it’s offering a substitute for personal fairness acquisition. The agency additionally just lately launched a brand new Adviser Academy to coach future planners.
Gary Treen, managing director of Ashridge Monetary Administration, mentioned: “I’m very happy to be teaming up with such a forward-thinking agency, the place an emphasis is positioned on delivering a top quality consumer expertise always.
“This deal will allow me to focus on delivering monetary recommendation, whereas taking a step again from the each day administration that operating a smaller regulated agency entails. I look ahead to working with the Lumin workforce as we embark on this thrilling new journey collectively.”
Martin Cotter, managing director of Lumin Group, mentioned: “We’re delighted to have the ability to work with an adviser of Gary Treen’s expertise and high quality, offering him and his workforce with a platform to proceed to ship high quality monetary recommendation to shoppers, whereas Lumin takes on the environment friendly administration of his enterprise.
“This partnership additional enhances Lumin’s skill to supply skilled recommendation to a wider viewers in step with our growth plans.”
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