A financial advice and investment firm in St Albans has completed its first acquisition.
Lumin Wealth Management, in Sandridge Park, has bought Luton’s Hyperion Financial Planning, which has £85m of client funds under advice.
Managing director at Lumin, Martin Cotter, said there are “obvious similarity” in values: “We believe this transaction provides a template for further acquisitions and that we represent a strong alternative to the national consolidators for advisers that want to retain a more personal involvement and entrust their clients to a high service proposition.”
Hyperion director and shareholder Michael Barnett is one of two advisers, along with a senior paraplanner, moving to Lumin Wealth.
Michael said: “Throughout the process of finding a suitable buyer for our business we were clear that our clients were of paramount importance.
“From the first meeting with Lumin Wealth it was obvious they were the right partner.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here