Financial planner eyes more growth after takeover

A financial planning and wealth management firm is eyeing further growth after completing a takeover.

Suttons Independent Financial Advisors has bought Whitewell Financial Planning.

And bosses say the move could be followed by further acquisitions as they seek to continue making a “meaningful difference to customers’ lives”.

The deal was completed for an undisclosed sum.

Based in Sale, Greater Manchester, Suttons has £240 million of client assets under management and provides support across areas including wealth management, tax, pensions and retirement planning.

Bolton-based Whitewell provides investment and financial and retirement planning advice, and has nearly £40 million of client assets under management.

Under the terms of the takeover, founder Phil O’Connor will continue to work with Suttons.

Ben Preston, Suttons’ managing director, said: “Whitewell is a great fit for us.

“By merging our firms, we’re able to offer Whitewell’s clients a broader range of services and expertise, the support of our larger team and ultramodern digital infrastructure.

“We continue to seek opportunities to make further acquisitions of quality owner-managed businesses, while growing strongly organically by gaining new clients.”

Phil added: “There was interest from a number of parties, but I felt Suttons was the right fit for the business. 

“It has a strong local reputation and commitment to personal advice.”

A team at law firm Bermans’ Manchester office advised Suttons on the deal.

Robin Hastings, Bermans corporate partner, said: “This acquisition will help Suttons broaden its business offering and client base.

“We look forward to working with them again in the future as they continue with their expansion strategy.”

Law firm Schofield Sweeney advised Whitewell on the sale, with the deal brokered by Pathfinders’ Brian Hill.

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