Wealth manager and investment firm Titan Wealth has acquired Financial Planning rival Independent Wealth Planners (IWP).

The acquisition will add IWP’s two trading businesses (IWP Financial Planning Limited and IWP Investment Management Limited) to Titan Wealth along with approximately £6.6bn of client assets.

The deal, for an undisclosed sum, is subject to regulatory approval.

The move will push up Titan Wealth’s total AUM / AUA to approximately £35bn.

Titan Wealth combines an independent financial advice offering with investment management and custody solutions.

Titan claims that following the acquisition, it will be one of the largest Financial Planning businesses in the UK, with more than £14bn in assets under advice.

Titan has been on the acquisition trail in recent times and in October signed a deal to acquire £7.9bn AUM Channel Islands wealth manager Ravenscroft Investments Limited.

As part of the Titan deal IWP’s recent restructuring will continue with all trading businesses moved into two regulated entities and one operating platform.

IWP will also work closely with Titan Wealth’s other financial advisory businesses, including Titan Wealth Planning.

Andrew Fearon, joint group CEO and head of M&A at Titan Wealth, said: “It has been a long-term goal of mine and James Kaberry, as founders of Titan Wealth, to acquire and partner with one of the leading IFA platforms in the UK and we are delighted to have fulfilled this ambition with our acquisition of IWP.

“We are both very familiar with the key individuals at IWP and know from experience that this is a fantastic business, with some of the best advisers across the UK managing approximately £6.6 billion worth of client assets. We are extremely excited and honoured to be able to continue on their journey with them.”

Rob Allen, CEO of IWP Holdings, said: “We are delighted to be announcing this deal with Titan Wealth. Throughout the deal process, it has been clear to all of us at IWP that Titan Wealth shares our emphasis on driving consistent improvements to the client journey and delivering the best possible client service.

“Following a period of significant growth and consolidation as a standalone business, joining Titan Wealth represents a fantastic opportunity and next step. I am excited by the benefits that this powerful combination will provide for both clients and colleagues.”

Titan Wealth was advised by Continuum Advisory Partners (sole financial adviser), White and Case LLP (legal), Deloitte (Financial DD) and Thistle Initiatives (Reg DD). IWP was advised by Jefferies (financial adviser), Proskauer (legal) and PWC (Financial DD).