Titan Wealth has announced it is to acquire Chester-based financial advice firm, Innes Reid Investments.

The acquisition, for an undisclosed amount, will add £590m of assets under advice to Titan Wealth’s £38bn of assets under advice and management.

Innes Reid, which will become part of the Titan Wealth Group, provides financial planning advised solutions to high net-worth individuals, business owners and retirees. Its services include investment portfolio management, retirement and pension planning, inheritance tax, estate planning and protection solutions.

The business has grown to manage over £590m of assets under advice serving over 2,500 clients since its inception in 1999. Led by Mark Reidford, who founded the business, Innes Reid has a team of 10 financial advisers.

Reidford said: “This acquisition is a positive step in strengthening the long-term sustainability of Innes Reid. It allows us to enhance the support, resources and infrastructure behind our advice, ensuring we can continue delivering positive client outcomes in everything that we do.”

Joint group CEO and head of M&A at Titan Wealth, Andrew Fearon, added: “We’re looking forward to strengthening our financial planning advice in Chester and the surrounding area.

“This acquisition boosts our regional footprint in the UK and strengthens our ability to deliver locally based relationships for all our clients. We look forward to working with their team to make available the extensive range of client-focused solutions that we now have for all our advisers at Titan Wealth.”

The acquisition remains subject to regulatory approval.

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