The transaction sees all R&S Associates Financial Planning client-facing staff retained. Vince Lane continues to oversee his key client relationships. The team will be strengthened further with Darren Berry joining the team on a full-time basis. Darren has previously looked after private clients at UBS and holds the Chartered Financial Planner status, is a designated Trust and Estate Practitioner through STEP and is a Fellow of the Personal Finance Society.
R&S advises over 100 families, many of whom have been clients for decades and, in some cases, over multiple generations. The deal will add to HFMC Wealth around £630,000 of annual recurring revenue and assets under advice of £145m. The average client size is £1.2m, which marries perfectly with HFMC Wealth’s High Net Worth proposition.
Our growth strategy includes making carefully selected acquisitions. We worked hard during 2022 to identify planning firms which meet our high-net-worth criteria and that truly have the interests of their clients and staff at their heart. It is fantastic to have the backing of a funding partner like ThinCats, who are supporting our vision for the business
Jeremy Hoyland Chief Executive Officer at HFMC Wealth
“We continue to pursue other potential acquisitions with like-minded wealth and financial planning firms and expect further deals to be agreed in 2023 as we continue our growth strategy. We are building a sustainable financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank.”
Steven Ford, Head of Borrower Relationships, ThinCats said; “We’re seeing a growing need for this type of lending in the IFA sector. We’re pleased to provide this funding to help support HFMC’s growth ambitions.”