25th November 2024
MKC Wealth, backed by the private equity firm Cabot Square Capital, has expanded its presence in the wealth management sector by acquiring two Greater Manchester-based firms: Warr & Co Independent Financial Advisers Limited and Halstead Independent Financial Management. The financial details of these acquisitions have yet to be disclosed.
Warr & Co was established as an in-house financial advisory service within Warr & Co Chartered Accountants and became an independent advisory business in 2012. This firm brings £70m in AUA and 140 client households to MKC Wealth. After a transition period, Co-founder Jeff Crewdson will retire, while Steve Prosser and two colleagues will integrate into MKC’s Stockport office.
Halstead Independent Financial Management is a family-run firm that advises medical professionals. It contributes an additional £90m in AUA and serves 150 households. Principal Mark Halstead, whose father founded the firm in 1973, will join MKC along with a financial planner and client support staff.
MKC Wealth CEO Dominic Rose emphasised the importance of client benefit and cultural alignment during such transactions, describing these acquisitions as seamless additions to MKC’s expanding portfolio. He stated, "It was clear that the clients and teams of both firms align perfectly with MKC’s ethos, and I’m excited to build a business that our clients love.”
These acquisitions highlight the ongoing trend of private equity-backed firms driving consolidation within the financial advice sector. With increasing regulatory demands and pressures related to succession planning, smaller firms must form strategic partnerships with larger entities to ensure continuity and foster growth.
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.