Cooper Parry Wealth (CPW) has acquired Luton-based Chartered Financial Planning firm Chamberlyns in its latest deal.

The deal, for an undisclosed sum, boosts CPW assets under management to over £1.3bn and headcount to 70.

It’s the fifth deal completed by the Cooper Parry Group in 2023 after it struck an investment partnership with Waterland Private Equity in July 2022.

In April CPW London-based Financial Planning firm Future Perfect.

Chamberlyns was founded in 1997 and is an independent wealth management boutique and a Chartered and Accredited Financial Planning Firm.

CPW says the two firms have a similar approach and as part of the deal Michael Smith, former Chamberlyns CEO will join CPW as head of M&A and proposition.

Cooper Parry Wealth CEO Stephen Jones said: “Chamberlyns is a business I’ve known and respected for many years since myself and Michael Smith first met in a best practice group in March 2010. I’ve watched their progression closely since then and admired their principles of true Financial Planning and evidence-based investing because our businesses share so much common ground.

“Having met the rest of the Chamberlyns team over the years, I knew we were culturally aligned, as well as strategically, which is really important to us. What’s more, Michael and the team have successfully embarked on their own acquisition journey in the past. So, as we continue our deals through 2023 and beyond, positively impacting more lives and building a legacy to be proud of, I knew their experience would be very useful to us, and I knew they’d be a perfect fit.”

Mr Smith said: “It feels like ideal timing for both businesses. There’s no question to me that Cooper Parry Wealth is one of the leading Financial Planning and wealth management businesses in the UK. And, as part of the wider Cooper Parry Group, it has that infrastructure and multi-disciplinary offering that would benefit Chamberlyns and our clients.

“Stephen and I have a great deal of respect for each other, and the commonalities between CPW and Chamberlyns are a big driver for this deal, because while our name will change, the calibre of service and our approach won’t."

Cooper Parry Wealth (CPW) was established in 1999. In 2010 it said it scrapped the ‘traditional’ wealth management model and created a new proposition with the CPW team looking after successful individuals and their families. The firm aims to reach £4bn AUM by 2027 and has a presence in the East Midlands, West Midlands and London.