MKC Wealth, the expanding wealth manager, has acquired Dartford-based Gibson Lamb and Mulberry Financial of Macclesfield for undisclosed sums.

Gibson Lamb was established in 1973 and has been led by the founder's son, Dave Lamb, for 31 years.

Dave Lamb now plans to leave the sector to work in the green home energy transition sector.

Two Gibson Lamb client support staff have joined MKC Wealth's City of London office in an administrative capacity and Mr Lamb will stay on for a brief period of transition.

Gary Lee, who has run Mulberry Financial since 2007, has also decided to leave the industry and his clients will be supported by MKC’s Financial Planners following a hand-over period.

MKC Wealth is backed by private equity firm Cabot Square Capital and has has acquired several Financial Planning firms in recent years, including eight firms in 2023.

In February it acquired London-based Financial Planning Firm Wealth for Women for an undisclosed sum and in December it added £90m to its assets under advice by acquiring Buxton-based Crescent Independent and the client base of Bury-based IFA Christine Brearley.

Dominic Rose, CEO of MKC Wealth, said: "MKC Wealth continues to grow both organically and by merger and acquisition. What matters in scenarios like this is that clients turn around at the end of a transition period and thank their former adviser for the way in which the relationship has been transferred to MKC Wealth.”

“I am pleased to be able to welcome Emma McMahon and Vicky Baldwin (from Gibson Lamb) to our client support team in London who will both help us deliver on our promises to our new clients."

Dave Lamb said: “Our emphasis on green and environmental-backed investing led us to strike a deal with MKC Wealth. Not only does MKC Wealth share our ethos, it is also clear from its previous deals that it has the expertise and resources to do so."

Gary Lee said: "When we decided to retire from the industry, it was really important that our clients were not left in the lurch. We spoke with a number of people who had gone through this process with MKC Wealth before and they were really happy with how it had worked." 

Gibson Lamb was advised by Gunner & Co and Mulberry Financial by the Exit Partnership.