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

Suttons Independent Financial Advisors, Whitewell Financial Planning
Suttons Independent Financial Advisors, based in Sale, Greater Manchester, thas acquired Whitewell Financial Planning for an undisclosed sum. 

A team at the Manchester office of law firm Bermans advised Suttons on the deal.

Whitewell, which was founded in 2008 by Phil O’Connor, provides financial planning, investment and retirement planning advice to individuals, business owners and directors, senior medics and other professionals across the north-west and beyond. It has nearly £40 million ($54 million) of client assets under management, the firm said in a statement.

Following the deal, O’Connor is working with Suttons and will be the main point of contact for his clients. He is a chartered financial planner and is accredited by Resolution as an independent financial advisor. 

Resolution is a membership organisation for lawyers and other professionals committed to constructive, non-confrontational ways of resolving divorce, separation and other family-related legal issues.

Suttons, which was established in 2006 by Harvey Sutton, has 20 staff and £240 million of client assets under management. It is a chartered financial planning firm providing wealth management, tax, pensions and retirement planning advice to a client base which includes professionals, business owners and entrepreneurs. Its services also include providing advice on mortgages, equity release, illness and life insurance, and savings.

Revenues for Suttons’ financial year, which runs until June 30, are on track to reach a record £3.3 million. Whitewell is its third acquisition.

Suttons’ managing director Ben Preston said the firm is continueing to seek suitable acquisitions to increase its growth. “By merging our firms, we’re able to offer Whitewell’s clients a broader range of services and expertise, the support of our larger team and ultramodern digital infrastructure that underpins our firm.”

“There was interest from a number of parties, but I felt Suttons was the right fit for the business,” O’Connor added.

Bermans corporate partner Robin Hastings and the firm’s head of commercial Richard Riley advised Suttons on the acquisition; law firm Schofield Sweeney advised Whitewell on the sale; and the deal was brokered by Brian Hill of Pathfinders.