The FCA authorised the change of control earlier this month, taking the deal a step closer.

Under the deal Parthenon will provide Titan with the resources and additional capital to expand its M&A activity.

Andrew Fearon, joint CEO and head of M&A at Titan said: “The change of control milestone cements our relationship with Parthenon. The deal supports our overall acquisition strategy and will be instrumental for our future growth plans as a business. Parthenon’s substantial expertise in growing and developing businesses will also be invaluable for Titan, as we continue with our growth plans.”

Titan has made a number of acquisitions in recent months of both Financial Planning and asset management firms.

In October the firm acquired North East IFA Prism Financial Advice, adding £630m in AUM to its books.

The cost of the deal has not been disclosed.

Titan says the acquisition will boost Titan Wealth’s total assets under management or advice to over £12.6bn, a step towards its total target of £50bn under administration within five years.

In June it acquired investment research and consultancy firm Square Mile for an undisclosed sum.

Earlier in the year it acquired the UK investment management arm of investment services provider Ravenscroft for an undisclosed sum and in January it acquired Chartered Financial Planning firm Telford Mann for an undisclosed sum.

Titan is already backed by private equity firms Parthenon Capital Partners and Ares Management.

Andrew Dodson, managing partner at Parthenon Capital said: “Titan is a fantastic business and the perfect investment for our first venture into the UK wealth market. From our many conversations with the team, it is clear that our strategic ambitions for the Titan business are very much in alignment. We look forward to working with the Titan team as they continue to build on the strong track record of growth and enhance the business’s unique, vertically integrated client-to-custody support.”

Titan’s management team includes James Kaberry, an entrepreneur and founder of Pantheon Financial Management and Andrew Fearon, founder of a major UK IFA consolidator.