Clifton Wealth Partnership Acquires Dukes IFA

Chapters Capital is pleased to have advised Adrian Duke-Cohan on the sale of Dukes Independent Financial Advisers to Clifton Wealth Partnership. The transaction brings 170 client households and £43 million in assets under management to the Bristol-based firm.

 

The transaction

Clifton Wealth Partnership has completed the acquisition of Dukes IFA, an independent financial planning firm based in Bushey Heath, Hertfordshire.

Adrian Duke-Cohan will remain involved in the business, focusing on maintaining continuity for clients and supporting the handover to the wider Clifton Wealth Partnership team.

The acquisition is Clifton Wealth Partnership's fourth of 2026, following the purchase of Essex-based Cutting & Carter in April as well as the acquisitions of Cairn Independent and JRW Financial Management in Scotland earlier in the year, which were also advised by Chapters Capital.

About Clifton Wealth Partnership

Clifton Wealth Partnership is part of the Bristol-based Clifton Group, which serves more than 15,000 clients, employs 180 staff, and manages approaching £4 billion in assets under management. In October 2024, UK private equity firm CBPE Capital made a strategic investment in Clifton Wealth Partnership to support an accelerated acquisition programme. The group aims to expand its national footprint by partnering with established advisers whose client-focused approach aligns with its own.

Anthony Carty, Managing Director of Clifton Wealth Partnership, said:

"Adrian has built a highly regarded business with deep, long-standing client relationships. That level of trust reflects years of consistent advice and care. We are pleased to welcome Dukes to Clifton. There is a strong alignment in how we think about client relationships and the role of financial planning over the long term. Our priority is to ensure clients continue to receive the same level of personal service they are used to, while benefiting from the wider support, technology, and infrastructure we have in place across the group."

About Dukes Independent Financial Advisers

Adrian Duke-Cohan began his career in financial services in 1988 and, having left the City to escape its target-driven culture, set up his own fee-based practice in 2004. Dukes Independent Financial Advisers Ltd was incorporated in February 2012 and is based in Bushey Heath, Hertfordshire.

Most of the firm's 170 client households are based within a five-mile radius of the Bushey Heath office, and some of those relationships span more than three decades.

Adrian said: "This has always been a relationship-driven business. I've spent many years building trust with clients and supporting them through different stages of life, so finding the right home for those relationships was essential. I took time to meet a number of potential partners, but Clifton stood out. Everyone I spoke to across the business was approachable, open, and genuinely focused on doing the right thing for clients. That gave me confidence that my clients will continue to be well looked after. It has been a privilege to support clients over the years. This next step is about making sure they remain in a strong position, with the right people around them for the future."

On working with Chapters Capital, Adrian added: 

"I wanted to write to thank Daniel at Chapters Capital for all the work he put in to broker the sale of my company. Having spoken with and dealt with several brokers in the past, it was refreshing to find somebody who not only took the time to listen, but to genuinely understand the complexity of the situation and the reasons for the sale. It was clear from the start that Daniel had a hotline for the decision makers and was able to effectively present my case and to indeed secure a significant uplift prior to any formal discussions taking place. The care and consideration was obvious and his input continued pre and post exchange all the way through to completion. I would like to personally thank Daniel for his hard work and I would throughly recommend him and Chapters Capital."

What was Chapters Capital's role? 

Chapters Capital advised Adrian Duke-Cohan on the transaction, supporting him through valuation and positioning, engagement with potential acquirers, negotiation of commercial terms, and progression through to completion.

Daniel Campanale, Associate Director at Chapters Capital, said: 

"It was a pleasure to work with Adrian. He has spent the better part of four decades in financial services, and what came through from the very first conversation was how much he cared about getting the right outcome for his clients, many of whom he has known for thirty years or more. I am excited for him to be able to spend more time at the theatre and the Emirates in the coming years as he transitions into retirement. We are very pleased to have supported him on the transaction."