Wealth manager continues acquisitive streak

Wealth management firm Newell Palmer has made its second acquisition of the year.

It has taken on 80 active clients from Wright Financial Planning, which it will service from its Wolverhampton office.

Newell Palmer, which also has offices in Bromsgrove and Nuneaton, has a strong acquisition strategy, having completed 40 deals in 19 years.

In January it acquired AIP Financial Consultants, which added £12m of funds under management and 41 active clients to Newell Palmer’s client base.

Newell Palmer’s finance director, Kevin Homfray, said: “We took a small break from acquisitions while our teams here focused on our recent CRM system upgrade to Intelligent Office.

“I’m pleased that we have completed on the deal with Norrie, and now we are keen to press ahead with further acquisitions lined up before the end of the year.”

Norrie Wright has run Stafford-based Wright Financial Planning for 17 years and has now decided to retire.