MKC Wealth, the expanding wealth manager backed by Cabot Square Capital, has acquired two adviser firms.

MKC has bought Stockport-based IFA Warr & Co Independent Financial Advisers and Halstead Independent Financial Management of Urmston, Manchester for undisclosed sums.

Warr & Co has 140 households as clients with £70m of assets under advice (AUA), while Halstead has some £90m AUA on behalf of 150 households.

Warr & Co Independent Financial Advisers was set up in 2012 by Jeff Crewdson and Steve Prosser out of Warr & Co Chartered Accountants where they had been in-house financial advisers.

Mr Crewdson will retire after a short handover period, while Mr Prosser joins MKC Wealth along with two support colleagues, based at MKC's Stockport office.

Mr Crewdson said: "When I first contemplated retirement we had many suitors, but my gut feeling was that we couldn't work with any of them. Earlier this year we looked again and I tested my gut instinct by speaking to people who had already done deals with MKC Wealth to hear their views. They confirmed they were pleased with how it worked out for them and their clients. It is good news for clients and staff that the business remains in Stockport."

Halstead, which specialises in advising medical professionals, was established by current principal Mark Halstead's father Stephen in 1973 and Mr Halstead joins MKC Wealth, along with one other Financial Planner and one client support, and be based at MKC’s Stockport office. 

Mr Halstead said: "Of the 22 approaches we had over the last twelve months, only two potential acquirers made the shortlist. Not only does MKC Wealth share our ethos, it soon became evident that it has the expertise and resources to integrate our business and look after our staff and clients, and a proven track record of doing so."

Dominic Rose, chief executive of MKC Wealth, said: "As most people know; the key tests in situations like this are, firstly, will the clients benefit? And, secondly, do the cultures of the teams align? It was clear here that the answer to both is yes and I look forward to working together to build a business to be proud of and one that our clients love."

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

In May it acquired two adviser firms: Dartford-based Gibson Lamb and Mulberry Financial of Macclesfield for undisclosed sums.

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