HFMC Wealth has announced the acquisition of R&S Financial Planning in a deal which further strengthens its London office.

The deal will add to HFMC Wealth around £630,000 of annual recurring revenue and assets under advice of £145m.

R&S advises over 100 families, many of whom have been clients for decades and, in some cases, over multiple generations. The average client size is £1.2m, which HFMC Wealth suggested “marries perfectly” with its High Net Worth (HNW) proposition.

The transaction, which completed on 16 January 2023, will see all R&S client-facing staff retained. Owner and director at R&S, Vince Lane, will continue to oversee his key client relationships, while the team will be strengthened with Darren Berry joining the team on a full-time basis.

Commenting on the transaction, Lane said: “We have felt for some time that joining a larger firm would be the best way to deliver the wider range of services we wish to provide our clients, whilst also providing a controlled succession to my ownership of the business over the next 10 years.

“To ensure continuity for our clients, it was vital that any such partner shared our values and those of our clients, whilst mirroring our approach to wealth management. I wanted to have complete confidence that our clients would continue to receive high-quality ongoing advice and service for as long as they need it. I am confident that I am joining the UK’s premier home for entrepreneurial, independent chartered HNW advisers.

“In HFMC Wealth we have found a partner that meets all these requirements and who will protect the legacy of the business we are proud to have built over the last 37 years.”

CEO of HFMC Wealth, Jeremy Hoyland, added that the firm’s growth strategy includes making “carefully selected acquisitions”.

“We worked hard during 2022 to identify planning firms which meet our high net worth criteria and that truly have the interests of their clients and staff at their heart,” Hoyland said.

“The quality of the R&S business and staff is self-evident – like us, they have attracted committed and highly qualified professionals and have invested in their training and development to build a high quality, sustainable business based on long-term client relationships.

“We continue to pursue other potential acquisitions with like-minded wealth and financial planning firms and expect further deals to be agreed in 2023 as we continue our growth strategy.”

Share Story: