Recently launched wealth management and Financial Planning firm Nine Edge Wealth has acquired adviser firm Wealth Professional for an undisclosed amount.
Wealth Professional has approximately £340m in assets under management and four advisers.
It is Nine Edge’s second Scottish acquisition following RMS Financial Ltd in March.
The Edinburgh-based advice business was acquired to use as a launch pad for the new firm.
Wealth Professional was established in 2011 and has since has grown to serve clients across the UK, with main hubs in London and the South East, the Midlands and Scotland. It has developed an Adviser Academy focused on bringing through the next generation of financial advisers.
Douglas Mitchell, managing director of Wealth Professional, said: “We’re excited about this opportunity because we had, as a business, probably reached a plateau, and while we wanted to continue to grow, there were ceilings limiting our potential.”
He said he was attracted by Nine Edge’s emphasis on technology as a means of improving client outcomes and adviser efficiency.
Derek Miles, CEO of Nine Edge Wealth, said: “Wealth Professional has built a highly respected business with a clear sense of purpose and an impressive footprint across the UK. We’re excited to support that journey going forward and help create even greater outcomes for both clients and advisers.”
Nine Edge Wealth was created by former CEO of Aspira and Titan Wealth, Derek Miles and Kyle Augustin, who was previously CEO at Fintel IQ.
The pair were joined by fellow founder, Jo Blake, who was also formerly at Titan Wealth, and ex-England Rugby World Cup winner Matthew Dawson, who is a non-executive director.