The valuation of independent financial advice businesses has dropped from an average of 4 times recurring income in 2022 to 3.3 times recurring income for the first quarter of 2024, according to a new study.

Expanding wealth manager and Financial Planner Titan Wealth has completed its second acquisition this week with a deal to buy Bristol-based 45-adviser firm Aspira, boosting Titan’s assets under management and advice to over £17.3bn.

Jim Grant, CEO of Bath-based Chartered Financial Planner Fidelius, is stepping down after 12 years in the role as the FCA gives the go ahead to Swedish wealth manager Sӧderberg & Partners to take a minority stake in the business.

National Financial Planner Wren Sterling has completed its first acquisition of 2024 with a deal to buy £265m AUM Newcastle-under-Lyme firm TW Financial Planning.

Chartered Financial Planner Craven Street Wealth has completed its acquisition of Punter Southall Aspire’s Financial Planning division which was announced in January.

Private equity investor Pollen Street Capital is to acquire SIPPs and Financial Planning firm Mattioli Woods in a £432m deal announced today.

Nationwide Building Society is to buy Virgin Money for £2.9bn to create a combined business serving 22.6m customers.

Chartered Financial Planning-based wealth manager Fairstone is planning to increase its number of acquisitions this year after acquiring or part acquiring 24 firms over the past 12 months.

Wealth manager Waverton is to merge with rival London & Capital to form a £17bn AUM wealth management business.

Expanding Financial Planner and wealth manager MKC Wealth has acquired London-based Financial Planning Firm Wealth for Women for an undisclosed sum.