Expanding Chartered Planner HFMC Wealth has acquired London Chartered Financial Planner Weston-Cummins which has £350m in assets under advice (AUA).

It is HFMC Wealth’s second acquisition of the year after taking over R&S Financial Planning in January.

The deal was completed at the end of June and will see Weston-Cummins' client-facing staff retained with Alan Weston, Nick Frank, Steve Powis and Joseph Bacon continuing to oversee key clients.

Weston-Cummins advises 265 high net worth families.

Weston-Cummins director, Alan Weston said: “The decision to join another firm wasn’t an easy one. For some time we had been considering whether we should grow our own business, taking on more clients and advisers, or to seek a partner that had already gone through those growing pains and was already placed to provide fantastic advice with an exceptional range of services.”

He said the ability to retain relationships, for staff and clients alike, was critically important to its decision to join a larger firm.

Ross Ibbotson, HFMC Wealth executive director, said the acquisition was a continuation of the firm’s growth strategy.

He said: “We continue to pursue other potential acquisitions with like-minded wealth and Financial Planning firms and expect further deals to be agreed in 2024 as we continue our growth strategy.

"We are building a sustainable Financial Planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a private bank.”

HFMC Wealth was founded in 1986 and is owned by the active members of staff. With offices in London and Weybridge, the firm has an advice team of 37 Financial Planners. The business has over £2bn of assets under advice and management. It has acquired several advisory firms and bought Generic Financial Management in 2018 in a deal worth up to £3m. In Feb 2020 it acquired London wealth manager Aspinalls.