Ian Darby, executive chairman of acquisitive national Financial Planning The Wren Sterling Group, retired from the business at the end of 2024 although he will remain a significant shareholder.

His position as executive chairman in Wren Sterling Financial Planning will not be replaced.

Clementine Vaughan, a non-executive director of Magnus Financial Discretional Management, will step up to become non-executive chair of Wren Sterling’s discretionary fund manager, subject to FCA approval.

Mr Darby played a key role in the establishment and success of the company over the last nine years, after leading its buyout from the Towergate Group in 2015.

He then oversaw Wren Sterling’s secondary buyout by Lightyear Capital in December 2021 and recently secured additional facilities to fund the firm’s ongoing M&A programme.

James Twining, chief executive of the Nottingham-based Wren Sterling Group said: “Ian’s retirement will mark the end of a remarkable career with Wren Sterling, from its original inception to the business it has become today. Under his leadership, Wren Sterling has made critical changes to its strategy, structure and organisation that position it strongly for future success.”

Ian Darby said: “Having led the business through its secondary buyout and helped embed the new management team and strategy, now is the right time for me to step down. I leave the business confident in its strategy, management team and long-term growth prospects.”

Wren Sterling Financial Planning is a national firm of independent Financial Planners with 13 UK offices and more than £8bn in assets under advice. The Group, which incorporates discretionary fund management business Magnus, is backed by New York private equity business Lightyear Capital.

It has been acquisitive in recent times snapping up south coast adviser business the In Focus Group last August.

That was its third deal of 2024. It completed the acquisition of the Financial Planning division of the Kent-based insurance broker and financial adviser the Howe Maxted Group in July. In March it bought £265m AUM Newcastle-under-Lyme firm TW Financial Planning.

In July 2023 it took over Guildford-based IFA Messer & Matthews and also acquired a majority stake in Cornwall-based The Stockdale Group. In May 2023 it expanded into Northern Ireland with the acquisition of Ralston Bennett Financial Planning and Aspects Financial. The firm also expanded its presence in the North West with the acquisition of St Helens-based Callisto Wealth.

Other acquisitions in recent times included Active Wealth Management and HB&O Financial Services.