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Lancashire IFA scores £40m acquisition

West Lancashire-based IFA Acumen Financial Partnership has acquired fellow advice firm Wyre Investment & Financial Management.

The deal will see Acumen take on 400 active clients and £40m in funds under management.

Wyre founder Liz Warren and an administrative staff member will join Acumen’s team of 17, eight of which are advisers.

Acumen founder Angela Maher says the purchase will help the firm gain a stronger foothold across the North.

She says: “This acquisition is another important step forward as it sees us significantly increase our client base and open our first branch office.

“It puts Acumen in a much stronger position as we look to continue to grow and develop our firm.”

Profile: Acumen MD on growing your own advisers

Speaking to Money Marketing in September, Maher said has no plans to sell her firm to a major consolidator despite its relatively small size.

She said: “Sometimes people have sold out for what they’ve thought was a good deal and the consolidator has dismantled everything they’ve built up over their careers in front of them. No amount of money would be enough for us to let that happen.”

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