Wealth manager Lumin Wealth Management has acquired Bedfordshire-based IFA Hyperion Financial Planning with £85m of client funds under advice in a bid to become “an alternative to the national consolidators”.
Two Hyperion advisers as well as a senior paraplanner will move as part of the acquisition.
Hyperion director Michael Barnett says: “Throughout the process of finding a suitable buyer for our business we were clear that our clients were of paramount importance.
“From the first meeting with Lumin Wealth it was obvious they were the right partner and we have been delighted with the straightforward approach of the Lumin team throughout the process of agreeing a transaction.”
Lumin Wealth managing director Martin Cotter says: “Hyperion marks the first acquisition for Lumin Wealth, and we are delighted with the obvious similarity in our client values. We are looking forward to Michael and the Hyperion staff joining Lumin Wealth.
“We believe this transaction provides a template for further acquisitions and that we represent a strong alternative to the national consolidators for advisers that want to retain a more personal involvement and entrust their clients to a high service proposition.”
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