William James begins buy-and-build strategy with Clarke Fencott LLP acquisition
- Simon Bourke
- Apr 17
- 2 min read
Updated: May 5
17th April 2026
Deal summary
William James Financial Services, a Birmingham-based independent financial planning firm, has completed the acquisition of Clarke Fencott LLP, a chartered financial planning practice based in Wolverhampton. The transaction marks William James's first acquisition and the opening move in a stated buy-and-build strategy focused on the UK IFA market.
William James has said it wants to build a national presence through acquisitions of independent firms seeking succession, while preserving brand, client relationships and local heritage.
About William James Financial Services
William James Financial Services was co-founded in 2023 by Philip Stepp and Matthew Kidd, both formerly of Newell Palmer. Stepp founded Newell Palmer in 1993 and grew it to rank among the UK's 50 largest financial adviser firms before its acquisition by Ascot Lloyd in 2018. William James currently supports more than 700 personal and corporate clients and employs a team of over 25 professionals, including eight senior financial advisers, operating from Birmingham.
About Clarke Fencott LLP
Clarke Fencott LLP is a Wolverhampton-based Chartered financial planning firm. The business offers a broad range of financial planning services to private individuals and corporate clients.
Why is William James Financial Services acquiring Clarke Fencott LLP?
William James has been explicit about its ambition to build a national IFA presence through a disciplined acquisition programme targeting well-regarded independent firms where succession is a consideration. The Clarke Fencott deal provides a platform to expand the firm's geographic footprint within the West Midlands and to consolidate a client base built around long-term relationships and locally-rooted independent advice. Philip Stepp has noted that the strategy is focused on preserving the brand, client relationships and local heritage of acquired firms, rather than absorbing them into a uniform group structure.
What happens next?
No specific integration timeline has been disclosed. William James has indicated that existing offices and staff continuity are central to its approach and that it intends to build on Clarke Fencott's established client relationships.
What this deal means for IFA owners considering a sale
This transaction is a useful reminder that buyer appetite in financial planning M&A is not confined to the largest consolidators. Well-funded regional firms with experienced leadership are also pursuing succession-led acquisitions, particularly where they can keep hold of local relationships and identity.
For owners considering a sale, that makes preparation and clarity on non-negotiables important before any process starts. Chapters Capital's guides on how to prepare to sell your financial planning firm, how long it takes to sell a financial planning firm, and asset sales vs share sales are a good place to start.
Considering your next chapter?
At Chapters Capital, we specialise in financial planning and wealth management M&A.
Whether you are considering a sale, merger, or want to learn more about buyers in the space, please contact one of our professional associates today for a confidential, no-obligation consultation.
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