IFA acquirer, Independent Wealth Planners UK, has announced the acquisition of chartered financial planning firm Prosper Wealth Management, the company’s sixth regional office.
Prosper Wealth Management was founded in 2003 by David Barton and is headquartered in Wigan, Lancashire. Prosper will function as IWP’s main hub for Lancashire, with MD David Barton leading the team there and any further acquisitions that IWP might make in the area.
Prosper Wealth Management has grown organically over the last 16 years, as well as acquiring a couple of smaller IFA firms more recently. Prosper specialises in retirement planning and has very close relationships with most Wigan law and accountancy firms. Prosper will bring an additional 486 clients to the IWP group together with four advisers and six support staff. The acquisition also secures gross fee income of £1.35m and an additional £170m in funds-under-management.
David Barton, owner and founder of Prosper Wealth Management, says: “Having previously built Prosper both organically and through acquisitions, I completely understand the logic behind the IWP model. I had ambitions to grow Prosper Wealth significantly over the coming years, however to achieve this I really needed more support. My personal experience of going through the acquisition process with IWP has reassured me that they have both the resources and expertise to get the deals done. I am incredibly excited to be leading the IWP team in Lancashire and look forward to talking to IFA business owners that are looking to explore options for their businesses.”
David Inglesfield, IWP, CEO, who will presenting at Gunner & Co.’s workshops says “I am thrilled that IWP has expanded into Lancashire with an offering to serve the people of Lancashire and Greater Manchester. David and his team have a fantastic reputation in their local community and are a great fit for IWP. I have every faith that they will do an excellent job in growing our presence across the North West region.”
IWP was created to grow, support and promote the UK’s brilliant local independent financial advisory (IFA) firms and build the UK’s best financial advice business. IWP provides market-leading operational and support services, including compliance, IT, investment research, marketing, recruitment and training, allowing IFAs to spend more time with their clients. IWP acquires local firms but leaves the day to day management in the hands of local teams, who may also retain a participation in the ownership of the business.
Gunner & Co. worked closely with IWP on their acquisition strategy. To understand more about their proposition contact email@example.com