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European Wealth adds £200m in first deal since rebrand

Business-Handshake-Finance-Deal-700.jpgLondon-based wealth manager KW Wealth, formerly European Wealth, has acquired East Yorkshire-based IFA Marchant McKechnie.

The acquisition brings more than £1.4m in annual revenue to KW Wealth.

KW Wealth changed its name from European Wealth in September.

European Wealth buys £120m Towry client book

Marchant McKechnie will continue to operate from its existing office in Beverley, East Yorkshire, becoming KW Wealth’s seventh regional office in the UK.

It also has offices in London, Manchester, Cheltenham, Maidstone, Brighton and Worcester.

Marchant McKechnie serves around 700 clients and has around £200m of AUA.

The combined group will have more than £2bn of AUA, 20 financial advisers and more than 4,000 active clients.

KW Wealth chief executive Marianne Ismail says: “The UK wealth market is excessively fragmented, and we believe that there is a substantial market opportunity to build a national brand for quality, independent wealth planning advice and investment management.”

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