United Arab Emirates wealth manager AHR Private Wealth is to take over London-based AXG Group which offers financial advice and Financial Planning services mainly to expats.

AXG group companies will be integrated into the AHR business but continue to provide advice and a Centralised Investment Proposition for advisers operating in the international market.

The deal, for an undisclosed sum, follows the merger of UAE-based Arlo Wealth and international adviser Harrison Rowe in June to create AHR Private Wealth.

As a result of the takeover of AXG AHR will gain about £80m in assets, pushing up total Assets Under Management for the combined group to nearly £900m.

AHR Private Wealth’s clients will gain access to AXG Group’s experience in Europe and Latin America where it offers wealth management and financial advisory services.

As part of the transaction, AHR Private Wealth will offer an FCA-regulated Discretionary Fund Management Service via its teams in London and Windsor, to global clients.

Asad Sheikh, director at AHR Private Wealth, said: “The merger with AXG Group is a further indication of our continued drive towards providing our clients and colleagues with the highest level of support wherever they are in the world and is something we’ve been collectively working towards for several months.

“We are pleased to announce the agreement, subject to regulatory approval, and very much look forward to integrating the team into AHR. In today’s dynamic and transient environment, we believe that a versatile approach is critical to the advisory process and with this acquisition, we can better facilitate the lifetime journey of our clients in a multitude of jurisdictions.”

Gary Day, director at AXG Group, said: “The journey AHR have embarked upon is an exciting prospect for the team at AXG and one we are looking forward to joining. With our own business growing in size and scope, the depth of talent within AHR provides us with fantastic distribution to allow us to reach clients on a wider scale and enhance the service proposition AHR already have.

“I am confident that our pension transfer advice capabilities, discretionary fund management services and existing adviser network will add a great deal to the group and we are enthused at the synergies we have identified and excited at working together towards our collective goal.”