Following the successful acquisition of City of London based Penney, Ruddy & Winter earlier this year,  Advanta Solutions Ltd has today announced that it has acquired City Financial Planning Limited adding a further £800m of AUM under its stewardship. City Financial Planning has offices in both Bath and Exeter.

This is Advanta’s second acquisition in 2024 and the ninth in total. Advanta was assisted in this acquisition by Dow Schofield Watts, RSM, and DLA Piper. 

Commenting on the transaction, Tim Quirke, Director, made the following statement:

“Becoming part of the Advanta family enables us to continue to grow the business that has its origins almost 25 years ago when the current Directors joined forces to create City Financial Planning.  We have built up a base of fantastic clients, many of whom have become personal friends, making it essential for us to find the right company to partner with. We believe that Advanta is the right company for our clients and our staff.

Knowing that Advanta shares the same values, professionalism and client service standards that we believe in, was a fundamental key to our decision. This, added to the synergies that exist between our companies, gives us confidence that becoming part of the Advanta group is a positive and important step for our business.  Advanta will help to develop and enhance the advice and service levels we offer our clients and provide the resources to help grow the business to the next level”.

Craig Webster, CEO of Advanta, added:

“Adding a Bath and Exeter office to our group is a significant step in our journey and enhances our ability to service our growing client base and the firms we work with.   We are delighted that City Financial Planning have decided to become part of the Advanta team and that the Directors, advisers, their clients, and staff are joining us. City Financial Planning have built a fantastic reputation with their clients, and we look forward to working with them on the next phase of their journey.

Clients are, quite rightly, demanding more from the firms they trust their financial planning to. As a Chartered firm, we are firmly focused on our clients by providing insight and understanding married with service, experience and qualifications. Raising the standards of advice and service is central to our strategy of creating a professional environment for our clients.”

About Advanta:

Advanta Wealth is the fast-growing financial planning arm of Advanta Solutions and provides customers with a multi-disciplined wealth management proposition centered around Chartered Financial Planners. 

With offices in London, Glasgow, Dundee and now Bath and Exeter, the Advanta group of companies offers financial planning and insurance services to its clients across the UK through Advanta Wealth, Advanta Mortgages and Advanta Risk. 

Advanta continues to achieve substantial growth, with market leading levels of new business won each year through a highly satisfied customer base. 

Advanta Wealth is a Chartered firm formed in 2012 by the current CEO, Craig Webster and is listed in the 2024 FT Adviser Top 100.

Advanta is on track to manage £2bn of client assets by year end. 

Advanta is actively seeking acquisitions having secured a significant investment from Beech Tree Private Equity. 

The team at Advanta actively supports the Advanta Foundation, having raised over £1m to support children’s charities in the UK and overseas 

Press enquiries should contact Mark Pearson, Chief Commercial Officer: mpearson@theadvantagroup.co.uk

About Beech Tree:

Beech Tree Private Equity invests £10m - £40m into fast-growing profitable businesses in three key areas – financial services, technology and tech-enabled services. Funding can be used to support management buy-outs, provide cash out to owner-managers, accelerate organic growth and pursue acquisitions strategies.

 

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