New advice and wealth management firm Solomon Capital Holdings is to acquire financial adviser Beaufort Group for an undisclosed sum.

Adviser network Socium Group has withdrawn its acquisition offer for financial advice firm Beaufort Group.

Financial Planning, investment and mortgages firm Beaufort Group has appointed Chartered Financial Planner Jade Connolly as chief operating officer.

The Socium Group has acquired the Beaufort Group with part of its £160m war chest to acquire Financial Planning businesses across the UK.