Chartered Planner Lumin Wealth buys South East IFA



The acquisitive St Albans-based Chartered Monetary Planner Lumin Wealth has acquired South East monetary adviser Ashridge Monetary Administration – its third takeover in two years.

Lumin says the deal, for an undisclosed sum, provides £85m of belongings to the group and will increase whole belongings beneath administration to over £860 million.

The three employees members at Ashridge, together with MD Gary Treen, will be a part of Lumin as a part of the deal.

Earlier this yr Lumin acquired Hertfordshire-based monetary adviser Improve Wealth Administration.

It acquired Hertfordshire IFA agency Chamberlain Stean and West in 2021 and London Monetary Planner Everett MacLeod in 2020.

Final yr St Albans-based Lumin merged with the Swiss monetary providers supplier VZ Group to spice up funding and acquisition exercise within the UK.

 

Lumin, a Chartered Monetary Planning agency and discretionary fund supervisor, has workplaces in St Albans and London and says it's offering a substitute for personal fairness acquisition. The agency additionally lately launched a brand new Adviser Academy to coach future planners.

Gary Treen, managing director of Ashridge Monetary Administration, stated: “I'm more than happy to be teaming up with such a forward-thinking agency, the place an emphasis is positioned on delivering a top quality shopper expertise always.

“This deal will allow me to focus on delivering monetary recommendation, whereas taking a step again from the each day administration that operating a smaller regulated agency entails. I look ahead to working with the Lumin group as we embark on this thrilling new journey collectively.”

Martin Cotter, managing director of Lumin Group, stated: “We're delighted to have the ability to work with an adviser of Gary Treen’s expertise and high quality, offering him and his group with a platform to proceed to ship high quality monetary recommendation to shoppers, whereas Lumin takes on the environment friendly administration of his enterprise.

“This partnership additional enhances Lumin’s capacity to supply professional recommendation to a wider viewers according to our enlargement plans.”




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