Charles Stanley Group, the UK-listed brokerage and wealth manager, has acquired regional UK firm Jobson James Financial Services, with a price of up to £2.25 million (around $3.64 million) based over two years depending on certain revenue targets being reached.

JJFS is based in Birmingham and serves private and company clients with wealth management advice in areas such as retirement planning, tax and life assurance products.

“The acquisition will contribute to Charles Stanley's strategic positioning of building a stronger presence in the Midlands,” the firm said in a statement today.

JJFS’s sister business, Jobson James Insurance Brokers, is not included in the acquisition and will now operate as an unconnected stand-alone business, the statement said.

The existing senior management team on the wealth management and financial planning side of the business, including Richard Venner and Miles Goodworth, will remain on the board of JJFS with representatives from Charles Stanley.