Chartered Financial Planning firm One Four Nine Wealth has acquired York-based Mowatt Financial Planning for an undisclosed amount.
The York business has been rebranded to One Four Nine Wealth.
The deal is the twelfth acquisition for One Four Nine since being launched in 2021 and brings the group’s total client assets to £2.2bn.
The business said it now has a team of more than 30 Financial Planners and more than 5,500 clients.
Mowatt was founded in 2009 in Husthwaite, York by Will Mowatt, a former director of pensions marketing at Norwich Union. The firm serves families and individuals mainly in the Yorkshire region.
Mr Mowatt said: “Our business has grown alongside our clients, allowing us to build strong, lasting relationships over the years.”
He said he met with many potential acquirers “but One Four Nine Group stood out to us as the closest match for our values, as well as our expectations for the quality of personalised service clients receive.”
Gabrielle Beaumont, CEO, One Four Nine Group, said: “The acquisition sets the tone for our growth plans this year.
“Mowatt Financial Planning is an outstanding business that has built a fantastic reputation in Yorkshire. We remain committed to preserving their local presence while enhancing it with the broader infrastructure, investment capability and long-term succession planning that comes with being part of our Group.
"It’s important to us that clients continue to feel supported locally, while benefiting from the scale and resources of a national business.”
One Four Nine was launched in October 2021 with the acquisition of three well-established wealth management business. One Four Nine Wealth is the Group’s Financial Planning arm, operating alongside One Four Nine Portfolio Management to form a wealth planning firm with in-house Discretionary Investment Manager services.
In December it opened a new office in Glasgow to spearhead growth in Scotland.
The Glasgow office brought together teams from two acquired Financial Planning firms: APC Financial Solutions and McCrea Financial Services.