Schroders’ Benchmark Capital arm acquires Swindon-based 32-man Unique Financial Planning with assets under management of £755m.
The contract amount was not disclosed.
Benchmark recently acquired several financial planning firms and supports over 1,000 financial advisors with over £18 billion in platform assets.
In November, Benchmark acquired a 49% stake in West Midlands-based chartered financial planning firm Chartered Independent. It also completed the acquisition of 100% of Milton Keynes-based IFA Advison under its acquisition program.
In March, it acquired Chartered Financial Planners Kennedy Independent Financial Advice (KFA) of Delhi to expand its presence in Northern Ireland.
Unique has 32 advisors and £755m of client assets under advice. In the south of England he has five offices and is headquartered in Swindon.
Unique will join Benchmark’s network but will continue to operate independently, Benchmark said. Unique will receive support from Benchmark’s technology, training and development, along with additional group resources in marketing, finance, human capital management and compliance services.
Benchmark announced in June that it had hired former Sandringham Partners chief executive Tim Sirgison as the new managing director of its financial planning division.
Stewart Williams, CEO of Unique Financial Planning, said: “While we had many options when looking for a partner, it was clear that we wanted to invest in the business and work with someone who would support our growth vision.
“Benchmark’s technology and support really stood out for us. Their long-term commitment to financial planning and focus on customer outcomes was unlike anything else we’ve seen in the market.”
Benchmark Wealth Managing Director Ed Dymott said: “Unique has built its operations over the last 30 years and has established itself as one of the most trusted companies in each region. Management has been focused on how we can achieve our next phase of growth and find partners who can support our clients for the next 30 years and beyond.”
“We are pleased that they have chosen to partner with Benchmark and see strong alignment with our customer focus, technology enablement and long-term outlook.
“We have made a number of selective acquisitions over the last few years and continue to support over 175 advisory firms. Unique will be one of over 25 companies joining us this year.”