Financial Planner and wealth manager Blacktower Financial Management International has officially agreed the transition of the assets and personnel of international financial manager, PWS Group.

The firm says the acquisition “strengthens Blacktower’s vertically integrated growth plans, and bolsters its position as a leading driver in providing bespoke wealth management solutions to its global client base”.

John Westwood, group managing director of Blacktower, said: “This is a significant transaction, involving the transfer of £280m of client funds moving over to our advisory platform.

“We are pleased to welcome both Craig McConnon and Afzaal Abass, along with their PWS colleagues, into the Blacktower Group.

“We greatly look forward to working with them and further expanding Blacktower's worldwide presence.”

Craig McConnon, PWS chief executive, said: “The merger between our respective organisations made complete sense at group level, but more so for our valued clients, both existing and future.

“International clients rightfully demand high standards of advice and positive outcomes in their Financial Planning arrangements.

“The Blacktower Group provides a market leading proposition that enables our advisers to deliver a highly regulated and multi-jurisdictional offering.”

He added: “We are delighted to be joining John Westwood and his experienced team, and look forward to building on their already unrivalled success, spanning over 30 years in the international market place.”

The arrangement is viewed by Blacktower Group as the first of many under consideration, with further announcements “to be expected in the coming months”.