St Albans-based Financial Planning firm Lumin Wealth has merged with Swiss financial services provider VZ Group in order to boost organic growth and acquisition activity.

The tie-up will give VZ Group a foothold in the UK while providing Lumin with additional capital for significant further growth.

Lumin plans to use the tie-up to accelerate its growth through selective acquisitions with like-minded advice firms. The firm said the deal is “the logical next step” in accelerating its growth and acquisition programme.

The firm acquired Hertfordshire IFA firm Chamberlain Stean and West for an undisclosed sum in March. 

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

Lumin acquired London Financial Planner Everett MacLeod in January 2020.

Martin Cotter, managing director of Lumin Group, said: “We could not wish for a more formidable partner and take pride in VZ’s endorsement. VZ’s package of financial planning DNA, long-term horizon and financial muscle provides us with an unparalleled opportunity. We have been impressed by VZ's proven track record in developing differentiated propositions with clear client benefits. We are highly excited that we can further improve the service we provide our clients and offer a dynamic environment for aspiring financial advisers as we expand the business together.”

The newly merged firm plans to be one of the leading trusted and most respected Financial Planning firms in the UK, providing more solutions and services from a larger group whilst maintaining excellent personal service to clients.

As VZ Group has no pre-existing operational presence in the UK, the merger will not see any job losses at Lumin.

Markus Graf, Urs Feldmann and Andy Schaer from VZ Group will join the board of the newly merged firm. The firm will continue to trade under Lumin but will recognise the new partnership with VZ by incorporating ‘VZ Group’ into the firm's logo.