The latest M&A deals in wealth management.

Harwood Wealth Management Group
Harwood Wealth Management Group, the UK-listed financial planning and discretionary wealth management business, has agreed to buy Goldwyns Wealth Management, an Essex-based firm. It has also agreed to buy the trade and assets of Andrew Routley Pension.

Goldwyns is based in Southend-on-Sea and Andrew Routley Pension is based in Portsmouth.

Harwood is paid about £800,000 ($975,600) for Goldwyns and about £600,000 for the Routley firm. In both cases, the purchase price is payable 50 per cent when the deals are completed, expected to be October and December this year, respectively. These payments will be followed by two instalments of 25 per cent each which are due to be paid on the first and second anniversaries of completion, dependent on results.

The firm has also completed its purchase of the trade and assets of Patricia Hodge IFA. The purchase price for Hodge is about £400,000.

“We continue to see a healthy pool of acquisition opportunities ahead of us and, as communicated at the group's interim results, are working on several acquisitions at various stages of progress,” Peter Mann, chairman of Harwood, said.