Chartered Financial Planning firm Lumin Wealth has acquired Hertfordshire-based financial adviser Enhance Wealth Management, its second acquisition in a year.

Last year St Albans-based Lumin merged with Swiss financial services provider VZ Group as part of a plan to boost investment and acquisition activity.

Lumin is now firmly on the acquisition path and is looking for further deals.

It acquired Hertfordshire IFA firm Chamberlain Stean and West for an undisclosed sum last March. It also acquired London Financial Planner Everett MacLeod in 2020.

The latest deal boosts Lumin group assets under management to around £800m, Lumin said.

Lumin Wealth is a financial advice and discretionary fund manager firm based in St Albans and London. Enhance is also based in St Albans and is a wealth manager and IFA serving private and corporate clients. 

Martin Cotter, managing director of Lumin Group, said: “I would like to thank Peter Flowers, Fiona Read, Sara Moore and the rest of the Enhance team. We are delighted to welcome them to Lumin Wealth.

“Our plan puts the continuity of the client’s Financial Planning journey at the forefront of everything we do. We continue to look for similar firms who share our values to join the Lumin family.”

Peter Flowers, managing director of Enhance Wealth Management, said: “We are very pleased to be selling our business to such a forward-thinking and innovative company. Lumin Wealth shares the same core values as Enhance; namely putting the client first and delivering consistently excellent customer service.

“Our management teams have known each other for over two decades, so the ease with which we can assimilate Enhance clients into Lumin’s business model was one of the primary drivers behind our decision to join forces.”