Financial planner acquires firm to add to £7bn portfolio

National financial planning business Wren Sterling has completed its first acquisition of 2024 with a deal for TW Financial Planning.

Based in Newcastle-under-Lyme, TW Financial Planning has three financial planners, who service more than 750 households. It manages around £265m on behalf of its clients.

The TW Financial office will join Wren Sterling’s national office network, boosting its physical presence in the West Midlands.

Wren Sterling now operates from 13 offices covering 11 locations and around £7bn in assets under advice. The group which incorporates Magnus, its Discretionary Fund Management business, is backed by Lightyear Capital, a New York-based private equity business that specialises in financial services investments, following a secondary management buyout that took place in December 2021.

James Twining, Wren Sterling’s CEO said: “This deal ticks a lot of boxes for Wren Sterling. TW Financial Planning is a self-sustaining business borne out of close working relationships with professional introducers and has grown through client referrals and a strong local reputation.

“Our investment in technology and our central resources, including our Investment Committee, will do some of the heavy lifting that comes with running an advice business and allow the team to focus on client work, which is what they do best. The quality of the TW Financial Planning team, with some achieving Chartered status, will further grow our overall standard of advice and I am looking forward to bringing their expertise to the rest of Wren Sterling.”

Chris Devey, a Director at TW Financial Planning, added: “Wren Sterling’s service proposition is very similar to ours, while their onboarding process has been designed to minimise disruption to our clients and colleagues, which has always been our priority when looking for a firm to take our business to the next stage.

“Retaining our staff and our links to Thompson Wright Chartered Accountants, plus the opportunity to benefit from Wren Sterling’s scale, expertise, tools, technology and resources is a compelling offer and we believe this will only benefit us, and our clients.”

The acquisition of TW Financial by Wren Sterling was brokered by Gwill Evans of Gunner & Co.