Fast-growing Financial Planning and wealth management group Loyal North has completed two more acquisitions in Hertford and Essex, adding £56m in AUM.

It has acquired IF Wealth of Hertford and Powell Financial Planning of Chelmsford in Essex for undisclosed sums.

Both will become part of Loyal North’s regional hub GPFM (Gerald Pepper Financial Management Ltd) Chartered Financial Planners, which is also based in Hertford.

The acquisitions will bring £16m and £40m of client funds to the group, respectively, the business said.

As part of the acquisitions, Powell Financial Planning shareholder and Chartered Financial Planner Colin Powell will join GPFM as a senior Financial Planner. Fellow shareholder and Paraplanner Katherine Waspe Powell will join GPFM as a senior Paraplanner.

Mr Powell said: “Our business has prided itself on providing excellent Financial Planning, putting our clients at the heart of what we do. There are many similarities in what we and GPFM do for clients and how we deliver Financial Planning, and we felt that it was a natural home for us.”

Grant Hazard of IF Wealth will assist GPFM in overseeing the transition and integration of his clients before retiring from the profession.

Mr Hazard said: “It was so important that my clients went to the right home and having known both Simon and GPFM for many years, and understanding the client centric approach of Loyal North, made them the natural choice for my clients.”

Debbie Dry, group acquisition director of Loyal North, said: “With an existing local firm of scale in the same region, we believed that we were the perfect fit for the two firms. We also wish Grant the best for his retirement, and he can retire knowing that his clients are in the best of hands”.

Loyal North manages more than £1.8bn in client wealth nationally and has a strong acquisition pipeline.

In April it acquired £60m AUM New Malden, Surrey-based Whitman Fry Wealth Management Ltd for an undisclosed amount.

Last November it acquired Scottish Borders-based Financial Planning firm Sovereign Financial Services for an undisclosed sum to add £60m of client assets to the group.

Last August it acquired Kings Lynn Financial Planning firm Quay Financial Planning for an undisclosed sum. That month it also acquired West Malling, Kent financial advisory firm Paul Wallis Financial Solutions.

Among other firms acquired by Loyal North in recent years are: Hertford-based GPFM Chartered Financial Planners; Financial Planning and accountancy firm Milsted Langdon Financial Services, which has offices in the South West and North East; H&D Financial Planning; Lowland Financial based in Scotland and MacBeth Currie, also based in Scotland.

The firm also runs an online advice and investment platform serving advisers called JustFA.