Towergate Financial, the UK-based financial advisory business of the Towergate Group, has acquired K B Rollitt & Company, the wealth management and financial planning provider for private client and corporate businesses based in Newark, UK. Terms of the deal were not disclosed.

Under the terms of the deal, K B Rollitt & Company will form part of Towergate’s eastern region and will be led by Paul Chafer, regional managing director, Towergate said.

Kelvin Rollitt, managing director of K B Rollitt & Company, will become director of financial planning and will work with Mr Chafer in order to develop the business alongside his current management team.

“Joining forces with Ian [Mr Darby, Towergate’s CEO] and his team presents us with the ability to enhance our client proposition whilst maximising the growth opportunities available through organic development and further acquisitions,” said Mr Rollitt.

In other recent developments, in November last year, Towergate launched six differently risk-adjusted model portfolios for its wealthy clients.