Wealth manager and Financial Planning firm Saltus has acquired London-based Chartered Financial Planning firm Higgins Fairbairn Advisory LLP (HFA).

The acquisition is the third for Saltus over the past year.

The deal will bring staff numbers at Saltus to over 120, and assets under management to £2.3bn.

It said the acquisition will enhance its London Financial Planning offering and support growth aspirations in the region.

Saltus said it chose to acquire HFA due to its well-established London presence.

The wealth manager said it has a long-term strategy to acquire established owner-managed firms that share its client-centric and goal-based Financial Planning approach.

In September 2021 Saltus acquired Fish Financial and in March 2022 it acquired NSL Wealth. 

HFA was spun out from accountancy practice Higgins Fairbairn & Co, with Chartered Financial Planner Gianpaolo Mantini leading the advisory business. The LLP was incorporated in 2009 and first authorised in 2010.

The acquisition will see all HFA staff move across to Saltus and Mr Mantini become partner of Saltus.

HFA staff will move into Saltus’ four offices in London, Solent, Bournemouth and Farnham, with most predominantly working from the Mayfair base.

All HFA clients will keep their HFA adviser.

Mr Mantini said the acquisition will offer HFA’s clients the technological advancements that being part of a larger firm can bring.

He said: “From our early discussions with Saltus, it was clear that a merger with them would provide a great fit for our business and our clients.

“We have always embraced technological change, however to get more out of technology and to deliver a 'state of the art' financial advice proposition to our clients. We needed greater flexibility and responsiveness, so we are delighted to have become part of the Saltus Group.”

Jon Macintosh, managing partner at Saltus, said: “Gianpaolo and the team at HFA are a great fit for Saltus and we are delighted to welcome them on board.

“Not only do they share our goal-based approach to financial planning - placing the client at the heart of everything they do – but their well-established presence will really complement our financial planning services offering, enabling us to reach far more clients across the UK.”

The firm also acquired Lorica in 2020 and Consilia in March 2021.

Saltus now manages over £2bn in assets and employs over 100 people.

Earlier this year Saltus appointed Alex Spreckley as managing director of Financial Planning. He joined from Handelsbanken Wealth & Asset Management where he was head of wealth management and will help to drive a push to take the firm to Chartered status.