Fast-growing wealth manager and Financial Planner Finli Group, formerly Solomon Capital Holdings, has acquired Somerset-based Schaefer Financial Management and Birmingham-based MMR Financial Planning and said it plans three more acquisitions this month.
The deals for the Somerset and Birmingham Planning firms were completed for undisclosed sums.
Finli agreed to acquire Schaefer in February and MMR this month.
According to the FCA Register, Schaefer Financial Management based in Bridgewater, Somerset was first registered in 1997 but has not been registered as an AR since 2018.
MMR Financial Planning was first registered in 2006 at Kingswinford in the West Midlands, according to the register.
The two takeovers bring Finli's total acquisitions to 41. It now has more than 100 Financial Planners looking after more than 20,000 clients.
It said it is on target to complete three more deals this month in Kent, Cardiff, Merseyside and Somerset. The group, which has more £5bn in assets under advice, said the upcoming acquisitions feed directly into three of its core regions.
It has four regions in total and offices across England, Scotland and Wales, and is now looking to grow its local presence in Scotland, the north of England, central England and southern regions.
It has ambitious plan to add £1bn in assets each year and said it is open to speaking to adviser firms of all sizes - from £25m assets under advice upwards.
Finli Group was established in 2021 under the name Solomon Capital Holdings by former Quilter Financial Planning CEO Andy Thompson and CFO Darren Sharke.
Its objective is to become a prominent Financial Planning firm and has acquired two foundation platforms - Beaufort Group and Gale and Phillipson - as well as five regional hubs and eight smaller acquisitions.
The group also owns You Asset Management, an investment management company with £2.2bn in FUM.
Finli is backed by private equity firm JC Flowers & Co. The firm has invested more than $18bn (£14.7bn), including co-investment, in 66 portfolio companies in 18 countries across a range of industry sub-sectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. It has $4bn (£3.15bn) of AUM.
