Harwood assets soar after acquisition spree

We'll do great things togetherHarwood Wealth Management Group saw its assets soar in the six months to 30 April, boosted by a recent acquisition spree.

According to an interim statement posted today, Harwood completed nine acquisitions for a total of £10.9m in the six months to the end of April.

This brings the total number of acquisitions completed by the firm up to 69.

Assets under influence rose by 30 per cent to £4.3bn, with the acquisitions contributing just over a third of this figure.

Revenue climbed 44 per cent to £15.1m while profit rose 39 per cent to £6.8m.

The group says the number of financial advisers rose by 11 to 94 over the period and that it would be looking to add more.

Harwood Wealth Management Group chairman Peter Mann says: “The first half of the year has seen substantial progress, with the group delivering profitable growth across all its divisions, achieved in line with our clear growth strategy.”

Mann says: “These acquisitions are important not only in boosting our earnings but also building the group’s capabilities and driving future growth. To date, all companies acquired have integrated well and are performing as expected.”

Harwood listed on the London Alternative Investment Market for £45m in march last year.

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