Finitor Wealth’s acquisitions of Ascent Financial Consulting and Financial Management Bureau (FMB) bring its assets under management to more than £1.1bn.
FMB is a second-generation family business with eight advisers in Kendal, Cumbria, with more than £250m AUA. Ascent Financial Consulting is a three-adviser firm based out of Leamington Spa, and will bring £190m of AUA.
Tunbridge Wells-based Finitor was founded in 2018 and, through its regional partner firms, provides independent financial planning advice and other associated services to customers in the UK market.
Chief executive Paul Stokes said: “Finitor Wealth are delighted to have raised investment with Rockpool and this investment has allowed us to grow through the exciting addition of two high-quality firms, Ascent Financial Consulting and FMB.
“We look forward to working with the teams at FMB and Ascent as they continue on their respective journeys.”
Stuart Thompson, head of transitional capital at ThinCats, added: “A shortage of advisers means there is a real ability to create a national player and, with Rockpool’s investment, Finitor is well placed to capitalise on a fragmented market.”
Corporate Finance advice was provided to FMB by Max Perry, and tax advice by Sarah Haley, from Manchester firm HURST Accountants.