The acquisition marks a milestone in Moneyfarm's growth and expansion strategy; it will add £680 million ($879 million) in assets, taking Moneyfarm's total assets to over £5.5 billion.

This is Moneyfarm’s third UK acquisition in the past three years, following the integrations of Profile Pensions and Wealthsimple’s UK book of business, the firm said in a statement.

“This acquisition is an important milestone for our business, it sees our assets exceed £5.5 billion and underscores our commitment to expanding our market presence and strengthening our position as a leader in the digital wealth management industry,” Giovanni Daprà, co-founder and CEO of Moneyfarm, said. 

“This partnership could not come at a better time, as more consumers seek digital-first solutions that retain the human touch to help their decision-making. Becoming part of Moneyfarm ensures our clients have access to an enhanced range of wealth solutions to comprehensively plan for their financial futures,” Jason Chapman, CEO of Willis Owen, added.