St Albans-based Lumin Wealth has acquired nearby IFA firm Chamberlain Stean and West for an undisclosed sum.

The deal boosts Lumin’s group assets under management to over £600m and is the second acquisition for Lumin in just over a year.

Lumin acquired London Financial Planner Everett MacLeod in January 2020.

Lumin says it will continue with its policy of organic growth and partnering with “like-minded” firms.

Chamberlain Stean and West, an appointed rep of Sanlam Partnerships, offers a range of services including lifestyle Financial Planning, retirement planning, long term care fees advice, estate planning, equity release and investment planning.

Chris West, the retiring director and owner and Chamberlain Stean and West, said: “Whilst this is the end of an era for me, it is the beginning of an exciting partnership between CSW and Lumin that will bring even more support and opportunities for our clients “

Martin Cotter, managing director of Lumin Group, said: “I would like to thank Chris West, Colin Chamberlain, Mike Williams and the team at CSW. We are delighted to welcome them to Lumin Wealth. 

“Our plan puts the continuity of the client’s Financial Planning journey at the forefront of everything we do.  We continue to look for similar firms who share our values to join the Lumin family.”