The acquisition is the firm’s first in the South West.

Rainbird is a family business advising over 350 clients on investments, pensions and protection.

One Four Nine now has a total of 33 advisers managing £1.4bn of assets on the behalf of 4,300 clients.

Gabrielle Beaumont, CEO of One Four Nine, said: “We have been looking to establish a Southwest location for some time and Rainbird & Co’s team were a natural fit sharing our values, culture and long-term goals. I have known the Chris and his team for some time and have been very encouraged by their dedication, professionalism and enthusiasm as it relates to the next stage of their evolution.

“We are delighted to be welcoming the entire Rainbird team into the Group, particularly as we enter an exciting time for the business with our integration strategy beginning to gather momentum. I look forward to the contribution the Rainbird team will make to this initiative and to the future of One Four Nine Group.”

One Four Nine is funded by private equity firm Copper Street Capital and has also entered a long-term financing arrangement with Cordet Capital Partners.

It is a relatively new entrant to the adviser M&A sector and was launched in 2021. One Four Nine Group is focused on tax-efficient investments, including EIS, and its growing financial advice arm.

It recently expanded its leadership team with the appointment of Barry Strathearn as chief compliance officer and Stuart Harding assuming the chief operating officer role.