13th November 2024
Advanta has strengthened its presence in the UK by acquiring City Financial Planning, which adds £800m in AUM to its expanding portfolio. This acquisition marks Advanta's ninth overall and second this year, following the purchase of London-based Penney, Ruddy & Winter. With offices in Bath and Exeter, City Financial Planning enhances Advanta’s regional reach, providing a strategic foothold in the Southwest to better serve a diverse and growing client base.
Craig Webster, CEO of Advanta, emphasised the significance of this acquisition in supporting the firm's commitment to high-quality client service and continued growth. "Adding a Bath and Exeter office to our group is a significant step in our journey," Webster stated. "We are delighted that City Financial Planning has chosen to become part of the Advanta team. This partnership aligns with our focus on delivering insight, service, and expertise to meet the evolving expectations of our clients."
Established nearly 25 years ago, City Financial Planning has built a loyal client base by emphasising trust and personal connections. Tim Quirke, Director of City Financial Planning, expressed confidence in the merger, stating, "Becoming part of the Advanta family enables us to continue growing, supported by a firm that shares our values, professionalism, and commitment to high client service standards." Quirke believes that Advanta’s resources and shared values will empower City Financial Planning to enhance its offerings and reach new levels of growth.
Advanta’s acquisition strategy highlights a trend of consolidation in the financial planning sector. Firms are merging to scale services and broaden their market reach. This transaction reflects the growing demand for comprehensive advisory services, particularly from clients seeking trusted, chartered financial planning.
At Chapters Capital, we specialise in financial planning and wealth management M&A, supporting firms navigating similar transitions or growth opportunities. Whether you are considering a sale, merger, or expansion, contact one of our professional associates today for a confidential, no-obligation consultation.