Unique Financial Planning has acquired Watford-based Gerrard Byrne Financial Services (GBFS).

GBFS and Unique Financial Planning are both part of The Openwork Partnership.

GBFS was founded in 1992 by the late John Byrne.

Since his death it has been run by his widow Caroline Byrne.

It provides Financial Planning, investment and wealth management services for individuals and corporates.

Unique will retail GBFS’ current office and team of advisers which will be incorporated into the Unique Financial brand.

The acquisition increases Unique’s assets under influence to £800m and expands its team to over 30 advisers across six locations in Surrey, Oxfordshire, Hertfordshire, Hampshire and Devon.

Stewart Williams, CEO of Unique Financial, said: “We are honoured to have been charged with looking after the legacy John Byrne worked so hard to build over the last 30 years. The firm’s long-standing bank of clients and talented team speaks for itself.

“This acquisition is a significant development for Unique Financial as it brings us one step closer to achieving our long-term growth ambitions and allows us to expand our footprint into the Hertfordshire region. We look forward to working with our new colleagues to keep driving the business forward and finding new opportunities to enhance our proposition.”

Unique Financial Planning became one of the first two businesses to sign a five-year ‘Strategic Partner Firm’ contract with The Openwork Partnership in November. 

Openwork said the new contracts give the biggest network members and The Openwork Partnership more security to invest in a “mutually beneficial relationship.”

The partnerships mean the firm involved retain client ownership and marketing rights.

The Openwork Partnership network members employ more than 4,300 advisers in 700-plus firms across the UK ranging from sole traders to companies with 500-plus advisers.