The acquisition is subject to regulatory approval and will increase Titan’s AUM to £16.6bn. 

Bristol-based Aspira was established in 2000 and has a team of 50 financial and corporate advisers to over 15,000 private and corporate clients across the UK.

It is a national financial advice, pensions and employee benefits consultancy firm with a business model centred on providing expert, personal advice to its clients.

Titan said the acquisition will complement the existing retail offering of the Titan group and elevate its position in the market. It already has a strategic partnership with Aspira to develop the investment proposition and manage the Aspira Model Portfolio Service investments.

Derek Miles, chief executive of Aspira, will become chief executive of the Financial Planning division of Titan, with a remit to oversee the Financial Planning business within the Titan Group focusing on providing existing and new retail and corporate clients with financial advice and solutions.

He said: “It is clear from the many discussions we have had to date that Aspira and Titan are very much aligned in our shared vision of an innovative and integrated approach to financial advice. Today’s announcement marks a key step in our journey to enhance and improve our client proposition and brings with it lots of exciting opportunities which we will be working closely on together to develop.”

Andrew Fearon, joint group chief executive and head of M&A at Titan, said: “This acquisition aligns with Titan’s growth ambitions, expands our financial advice offering and further develops the ‘client to custody’ offering, which is central to our overall corporate strategy.”

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

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

This month US private equity firm Parthenon Capital revealed it was acquiring a majority share of Titan Wealth. Under the deal Parthenon will provide Titan with resources and additional capital to expand its M&A activity.