Milecross Financial reaches £1.2bn AUM with six deals
Updated: 2 days ago
8th October 2026
Deal summary
Milecross Financial has completed six transactions across the UK following its acquisition by The Openwork Partnership in June 2025. The deals have increased its assets under management (AUM) by approximately 60%, from £750m to £1.2bn.
What were the six transactions?
Murray John & Associates: Milecross has taken a stake in the Edinburgh-based financial advice firm.
Peter Cole Financial: Acquisition of the Devon-based financial advice business.
David Smith: Acquisition in Penarth, South Wales.
Eureka Financial Solutions: Acquisition in Stourport, Worcestershire.
Appletree Financial Solutions: Acquisition of the Blackpool-based financial advice firm.
Carl Summers Financial Services: Purchase of a wealth management client book based in Newport, Shropshire.
About Milecross Financial
Milecross Financial is a Northern Ireland-based financial advice business operating across the UK, providing services including financial planning, wealth management, mortgages and protection. Alongside its £1.2bn in AUM, the firm arranges approximately £750m in mortgage lending annually.
The business was acquired by The Openwork Partnership in June 2025, following a relationship spanning 20 years. Milecross has continued to operate under its existing management team, led by founder and CEO Paul Dalzell.
What happens next?
Milecross has confirmed that at least three further acquisitions are in the pipeline for the remainder of 2026.
Mike Shaw, former director of Appletree Financial Solutions, has highlighted improvements in operational support since joining Milecross. He said the group's additional resources, processes and back-office support have already helped improve efficiency while allowing him to continue supporting clients.
Milecross Financial's other recent acquisitions
Before its latest six transactions, Milecross completed four acquisitions during 2024. The three most recent were:
The Martin Cliffe Practice – December 2024
Milecross acquired the Milton Keynes-based financial planning firm, adding approximately £80m in client funds and 650 clients. The transaction also brought four advisers and three administrative staff into the group.
Miskimmin Wealth – September 2024
Milecross acquired the Northern Ireland-based financial advice business, which operates from Belfast and Ballyclare. The transaction added around £130m in assets, approximately 8,000 clients and 18 employees.
The Centre Court Partnership – June 2024
Milecross acquired the Ewell, Surrey-based advice firm, adding around £40m in assets and 2,000 clients. The business, led by David and Alison Harvey, brought a team of eight, including five advisers, into Milecross.
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