Privately-owned IFA consolidator Elevation Financial Group has acquired West Midlands-based Thornton Claverley for an undisclosed sum.

Thornton Claverley is an IFA firm headed by Chris Thornton.

The firm was founded in December 1999 and in 2023 had five employees.

The 13^th deal for Elevation brings £68m in assets and takes Elevation to over £500m of assets under management.

The deal has allowed Elevation to open an office in Wolverhampton to extend its existing presence across the Midlands.

Tony Smith, managing director of Elevation, said: “I am delighted  that Elevation has been able to bring such a quality practice into the group as Thornton Claverley - and it shows the appetite remains for practitioners to trust the future of their practice with IFAs of a similar background and values.”

He added that further acquisitions are in the pipeline for 2024.  

Founded in 2011, and headquartered in Birmingham, Elevation integrates its acquisitions into its directly authorised IFA firm Elevation Wealth Management.

Other recent acquisitions include Innovate Financial Solutions in the South East, Cedar Wealth in Derby, Pendra House in Warwick and Leefe & Co in the East Midlands.

The IFA consolidator looks to provide a solution for IFAs looking to retire. It is supported by its IFA Academy which helps young people entering the profession to develop their knowledge of the advice and service process while gaining formal qualifications.