Bowmore Wealth Group Acquires Independent Financial Strategies In Horley, Brining AUA For The Group To Above £400m
20th May 2024
Bowmore Wealth Group, a leading financial service provider, has announced the acquisition of Independent Financial Strategies (IFS), a North Oxfordshire-based firm servicing high-net-worth clients.
Bowmore Wealth Group, known for its focus on personalised financial guidance, operates under a family-oriented business model. The group encompasses Bowmore Financial Planning, a Chartered financial planner serving private individuals, trustees, and corporations, alongside Bowmore Asset Management, a discretionary fund manager.
Independent Financial Strategies, led by Charles Cozens and Kate Wythe, aligns very closely with Bowmore's client-centric approach. Both Cozens and Wythe will remain with Bowmore after the acquisition, ensuring a smooth transition and continuity of service for existing IFS clients.
While Bowmore acknowledges its intention to expand further through strategic mergers and acquisitions (M&A), Mark Incledon, CEO of Bowmore Wealth Group, emphasises a selective approach. "Cultural fit is paramount and we’re being careful only to progress with businesses that have a very close cultural fit with our own.” Adding value is also fundamental, he adds: “For Independent Financial Strategies, which has historically been more focused on the investment side of its work, we feel we can o`er its clients a lot through our financial planning side.”
Mark Incledon elaborates on Bowmore's appeal to other financial advisory firms: “We think that we are an attractive bidder for other firms of financial advisers as we are less debt-driven than traditional consolidators. Higher levels of debt mean acquirers have to squeeze more out of their acquisitions, and that’s not always in the interest of clients.”
Charles Cozens, expressing IFS's reasons for choosing Bowmore, highlights the well-defined succession plan and shared values between the two firms. “Bowmore have an inclusive ‘can do’ approach that can accommodate a broad spectrum of clients, “ he said.
This acquisition signifies Bowmore Wealth Group's commitment to sustained growth while prioritising exceptional client service. The combined expertise and resources position both parties for a successful future within the ever-evolving wealth management landscape. Charles also adds: “It is also worthy of note that our advisers on the deal said that he had never before seen both a buyer and seller take so much care and trouble to get to know each other’s business before completing the deal.”
It has been a pleasure working with Charles, Kate and the team at Bowmore. We are proud to have brought these well-aligned parties together, for a mutually beneficial outcome – for directors, staff and clients.
If you would like to explore your options or Bowmore’s proposition in more detail, please contact a member of our team to set up a confidential, initial call.