Three-office Midlands Financial Planning firm Newell Palmer has made its largest acquisition to date with the purchase of £100m FUM Northampton-based Lane Wealth Management LLP.

Lane Wealth, whose principal Edwin Lane is retiring, has provided financial, investment and pension advice to clients in Northamptonshire and nationally since 1994. Newell Palmer says it has ambitious growth plans for the coming years and this deal marks the latest move in that strategy.

Lane Wealth, acquired for an undisclosed sum, adds an additional £100m of funds under management and 150 active clients who will be serviced by Newell Palmer’s Bromsgrove office, one of three the company runs. The acquisition of Lane Wealth increases Newell Palmer’s total funds under management to £1.35billion.

Newell Palmer Finance Director, Kevin Homfray, said: “I am delighted that we have been able to complete the largest acquisition in our company’s history. Newell Palmer are confident that we can achieve and surpass our acquisition goals and increase our FUM in excess of £2 billion during 2018/19 via a combination of organic growth and acquisitions”.

“Edwin has grown Lane Wealth into a really impressive firm and we look forward to assisting his clients with their Financial Planning aspirations and goals. I would like to thank Edwin and wish him the best in his retirement.”

Edwin Lane, principal of Lane Wealth Management, said: “After an exhaustive search to find a larger partner who will continue offering our clients a very high level of service, we are delighted to have found and completed the deal with Newell Palmer.”