The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Alltrust Services, Phoenix Wealth
Alltrust Services and Phoenix Wealth have entered into an agreement for Alltrust to acquire the Phoenix Wealth Family Suntrust schemes. Completion is expected later this year. 

After completion, Alltrust will be the only self-invested personal pension provider in the UK accepting new business into a Family Pension Trust structure, the firm said in a statement.  Alltrust also intends to reopen the proposition to new business for the first time in several years.

“Bringing the Family Suntrust and the Alltrust Family Pension Trust back together is a significant moment for our industry," James Floyd, managing director of Alltrust, said. “These products were originally developed to meet a specific demand for pooled family pension structures. Having already provided a long-term home for the Rowanmoor Family Pension Trust book, we are now investing further in the technology, governance and service capabilities required to deliver a first-class experience for members and their advisors."

“Alltrust has deep specialism in bespoke Family Pension Trust arrangements and a clear strategic commitment to this market. Ensuring continuity of service for advisors and clients is our priority, and we are working closely with Alltrust to ensure a smooth and straightforward transition," Jenny Holt, product director, Phoenix Wealth, added.

WisdomTree
WisdomTree said last Friday that it has wrapped up its previously announced acquisition of Atlantic House, a London-based active manager specialising in defined outcome and derivatives-driven investment strategies.

“The addition of Atlantic House advances our strategy of expanding in structurally growing areas of asset management, including active ETFs, outcome-oriented strategies and managed models,” Jonathan Steinberg, WisdomTree founder and CEO, said. 

The acquisition helps WisdomTree’s ability to design, launch and scale active ETFs globally, and supports its planned launch of 15-20 defined outcome ETFs globally over the next 18 months. 

The purchase price was £150 million (about $200 million), payable at closing, subject to customary adjustments.

Following the completion of the deal, WisdomTree manages about $163.19 billion in assets globally, as of 29 April, including assets from its 2025 acquisition of Ceres Partners. The latter moved marked WisdomTree’s entry into private markets.

MWA Financial
MWA Financial (MWA) has completed the acquisition of Wiltshire-based Hawthorn Financial Services as part of its aim to build a national advice and planning business.

Following the acquisition, which brings a client base of over 70 family units to the group and adds £26 million ($35 million) of assets under advice (AUA), founder Derek Avenell will join MWA as an advisor with immediate effect.

The transaction was completed with the support of Frontier Development Capital (FDC) and Coniston Capital, whose investment in MWA in 2023 provided the long-term growth capital required to support the group’s acquisition strategy.

MWA Financial was founded in 2016 by chief executive Cam Banks, with the aim of building a UK financial advice business centred on planning and long-term client outcomes. Ed Rosengarten joined as executive chairman in 2021 to help execute the group’s growth strategy, bringing decades of experience from firms including Smith & Williamson (later to become part of Tilney in 2019, then rebranded as Evelyn Partners in 2022) and M&G, where he was chief executive of the firm’s equity business.

Following the acquisition of Hawthorn, MWA Financial Advice now serves nearly 2,500 clients across multiple UK locations overseeing about £950 million of AUA, supported by 50+ staff.

Shackleton Advisers 
Shackleton Advisers has acquired Surrey-based financial advice firm Arundel Wealth Management, adding more than £200 million of assets under management and advice.

The terms of the deal were not disclosed. Buyside assistance was provided by Grant Thornton, Brodies, and Ocorian Consulting. The Financial Conduct Authority has approved the transaction. 

“This acquisition enhances our footprint in the Southeast and aligns perfectly with our ambition to become the most trusted provider of financial advice in the country,” Paul Feeney, CEO of Shackleton, said. 

Shackleton was founded in December 2024.