Financial Planner and investment group Tilney is set to acquire Midlands firm Index Wealth Management.

Established in 2004 by Les Phillips and Noel Farrelly, Index is an award-winning wealth management firm based in Sutton Coldfield.

The firm has 12 staff, including three Chartered Financial Planners, three Paraplanners and a client service support team.

Tilney says Index Wealth Management provides “holistic Financial Planning and investment advice to a high quality client base comprising entrepreneurs, professionals and high net worth individuals.”

The firm supports clients with combined assets under advice of £243m, with the average client having assets under advice in excess of £1m.

Index Wealth Management’s multi-asset investment approach is focused on both traditional passive funds and ‘smart beta’ investments. 

Les Phillips, founding partner of Index Wealth Management, said: “We are very proud of the business we have built over the last 14 years but have also been thinking carefully about the future.

“Over time we have come to recognise the benefits of becoming part of a bigger group, with significant resources.

“We were determined to find a partner with similar values to us and with a commitment to expertise in both Financial Planning and investment.

“We have got to know Tilney really well and have been impressed by their ethos of professionalism and putting clients first.

“Tilney also has real breadth and depth in its investment approach and the flexibility to accommodate our focus on using passive funds.

“Tilney is a very natural home for us.”

Chris Woodhouse, CEO of Tilney, said: “Index is a great business which has earned a reputation for exceptional client service and is a really strong cultural fit with us.

“We have been expanding our presence in the Midlands in recent years and this acquisition will further cement Tilney’s position as the leading wealth management firm in the region.

“We will continue to explore acquisition opportunities right across the UK with high quality businesses who can see the benefits that our scale can bring in terms of infrastructure and support, enabling them to focus on delivering a very personalised and professional service to their clients.”