The Penny Group takes majority stake in £350m AUM advice firm Harridge Financial Services

Chapters Capital
Nov 21
3 min read

Updated: 1 day ago

21st November 2025

Chartered financial planning firm The Penny Group has acquired a majority stake in Harridge Financial Services, a Berkshire-based financial advice firm.

Who are The Penny Group?

The Penny Group is a chartered financial planning firm and strategic partner of The Openwork Partnership. With the addition of Harridge, its total assets reportedly rise to more than £2bn, with around 48 advisers across the group.

Who are Harridge Financial Services?

Harridge Financial Services is a Berkshire-based financial advice firm owned by Simon and Sue Jukes, founded in 1991. The business manages around £350m of assets under management (AUM) across a team of ten advisers, and recently expanded through the acquisition of Bolton-based Heavenly Finances, adding approximately £85m of assets under advice (AUA).

How will The Penny Group integrate Harridge Financial Services?

Following the transaction, Harridge will continue to operate as a separate entity but will trade as The Penny Group Harridge, with integration planned over a 3-year period. Client-facing operations are expected to remain unchanged initially, with a gradual increase in collaboration between adviser and client service teams planned from 2026 onwards.

Both businesses already run trainee financial planner/academy programmes, which will be brought together over time to create clearer career paths and support longer-term growth.

What are The Penny Group’s other recent acquisitions?

The transaction follows several other acquisitions by The Penny Group in recent years:

Isham Financial Centre – acquired 2025
Kettering-based financial planning firm led by David Sawiak, bringing a broad pensions, investment and protection client base and helping lift The Penny Group’s assets above £1.5bn as one of Openwork’s largest appointed representatives.

Whiting Financial – acquired 2024
Surrey-based financial planning firm (founded in 1987) within The Openwork Partnership, adding around £90m of assets under advice, with the team staying in place and integrating into The Penny Group over 12 months.
Roberts Financial Consultancy – acquired 2024
Midlands-based chartered financial planning business serving high-net-worth clients; continues to trade under its existing Sutton Coldfield brand, with principal Barrie Roberts remaining to oversee a phased transition for clients and staff.

What does the Penny Group–Harridge deal mean for advice firm owners?

For owners of IFA, financial planning and wealth management firms, The Penny Group’s latest move underscores a few ongoing trends in the market.

Alongside full buyouts, a number of buyers are using strategic majority stakes with staged, multi-year integration plans. This can be seen in recent deals such as Sovereign Capital’s majority investment in Equilibrium Financial Planning and CBPE’s stake in Clifton Asset Management, where existing management teams retain a meaningful shareholding and remain active in the business.

There is also a clear emphasis on protecting client relationships and staff continuity. In the Harridge deal, client-facing operations remain unchanged in the early stages. The same theme runs through Penny Group’s earlier acquisitions of Roberts Financial Consultancy and Whiting Financial, where local brands, offices and teams have been retained while central support is layered in over time. The message to potential sellers is that buyers increasingly recognise the value of continuity for clients and colleagues and are willing to shape deal structures and transition plans around that.

At Chapters Capital, we specialise in financial planning and wealth management M&A and understand the importance of strategic acquisitions for growth. Whether you are considering a sale, merger, or expansion or want to learn more about buyers in the space, please contact one of our professional associates today for a confidential, no-obligation consultation.