Harwood Wealth Management has acquired Ascot-based IFA Fund Management for £1.1m.
Fund Management, which has assets under advice of £34m, was jointly owned by Ian and Diana Head. The firm will operate as its own brand and Ian Head will remain at the business as an adviser.
Harwood Wealth non-executive chairman Peter Mann says: “We are making strong progress both organically and through our long-established strategy of making good quality acquisitions and, if anything, the current market dynamics are only likely to improve in this respect.”
The Fund Management deal is structured through a £566,100 payment followed by a further £566,100 payable in two lots over the next 24 months, subject to performance.
In March, Harwood bought bought Southampton IFA AE Financial Services for £4.6m.
Earlier this month, it acquired another Ascot-based firm, Plan65, for up to £1.56m.