Isle of Man financial services holding company Manx Financial Group has acquired Liverpool-based wealth manager CAM Wealth Group.

Manx will pay £210,000 with a three year earnout, capped and paid for with funds from within the group.

CAM Wealth provides financial planning, insurance and investment services to retail and small business customers based across the UK.

The firm was co-founded by managing director Lizz Ewart and CISI Chartered Fellow Derek Gawne.

Lizz Ewart, director of CAM Wealth, said the deal will allow both CAM Wealth and Manx to offer a wider range of services to their clients.

She said: "I, and my fellow Director, Derek Gawne, are absolutely delighted to become part of the MFG Group of companies and look forward to the enhanced growth prospects afforded with this new relationship.  We believe this is a real opportunity for us to assist MFG and their customers by providing a broader range of services and skills.  We look forward to a mutually successful future.”

Manx currently owns one other financial advice business, Isle of Man IFA Edgewater Associates. It has been searching for acquisitions since December 2023 as it looks to develop a diversified financial services group.

Douglas Grant, group CEO of Manx Financial Group, said: "The acquisition of CAM Wealth is a significant building block for Manx Financial Group. By integrating CAM Wealth's expertise into our operations, we unlock opportunities to provide our UK customers with a comprehensive suite of financial planning, investment services, and insurance solutions. This acquisition aligns perfectly with our objective of enhancing shareholder value while exploring new avenues for growth within the UK's financial landscape."

Manx Financial Group is an AIM-listed company. It is the holding company of a financial services group which serves retail and commercial customers, both in the Isle of Man and the UK. The sectors include banking services, payment solutions, foreign exchange, money saving solutions, wealth management, general insurance, and life insurance through its subsidiaries Conister Bank, Edgewater Associates, Manx Collections, MFX, Blue Star Business Solutions, The Business Lending Exchange, Payment Assist and Ninkasi Rentals & Finance.