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Harwood Wealth buys Ascot IFA

Group of business people holding a jigsaw puzzle pieces. Business solution integration concept. Multi ethnic group. Close up of handsHarwood 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.

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