Skerritts said the deal boosts its presence in the south east of England as the group looks to accelerate its expansion nationally.

Patrick McIntosh, director of Horley-based KMG, said: “With almost 50 years in the industry, I have run KMG since the late 1980s. With this in mind I have been looking ahead to secure the future of the company and team to ensure our current clients and their families are looked after for many more years to come.”

He said he has spent some time looking at potential companies that could complement the firm.  

He said: “Having then weighed thoroughly the various options, I am very pleased we have agreed to become part of the Skerritts Group as I believe that they share the high standards that I always aim to set.”

Skerritts is a Chartered Financial Adviser and wealth manager based in Hove.

In March 2021, private equity firm Sovereign Capital Partners, invested £55m in Skerritts to develop the business through organic and acquisitive growth. The strategy has seen new offices added in Kent, Hampshire and London.

The KMG Independent takeover increases the number of deals that the Skerritts Group has completed since the Sovereign investment up to nine.

It is also the third deal since CEO Paul Feeney, formerly CEO of Quilter, arrived at the firm as CEO.

Mr Feeney said: “This takes us one step closer to achieving our mission of becoming Britain’s premier Chartered Financial Planner.”

Last December Skerritts bought £230m AUM Financial Planning firm Chadwick McLean, which is based in Chester.

In September 2023 Skerritts Group acquired Kent-based Chartered Financial Planning firm Ambrose Fisher, adding £62m in AUM to the group.

In March Skerritts acquired Horsham-based Financial Planner Mercier Allen & Associates, adding £73m of assets under management. 

In January 2023, another acquisition was announced with the purchase of Kent-based Financial Planning Firm, Equinox Wealth Limited, which brought another £62 million of AUM.

In 2022, Skerritts completed four acquisitions, adding offices in Kent, Hampshire and London and about £560m of AUM.

Skerritts has about 50 staff serving 35,000 clients. It said buy-side assistance for the acquisition was provided by Dyer Baade, Crowe UK LLP, TCC, Alvarez & Marsal, EMC Corporate Finance and Pinsent Masons.