MWA PURCHASES TWO IFA FIRMS BASED IN LONDON AND CORNWALL

MWA Financial, an IFA business, has successfully acquired two firms: Sterling Financial Consultants in London and The Financial Advice Centre (FAC) in Cornwall. These acquisitions mark MWA’s initial steps in implementing its national expansion strategy, supported by a funding injection from ThinCats in March.

ThinCats’ investment initially infused £8.5 million into MWA, with a long-term commitment of £15 million. These transactions were finalised earlier this week, bringing MWA’s total acquisitions over the past two years to five. As a result, MWA’s assets under advice have grown to £450 million, and its team of advisors now exceeds 20 professionals.

As part of this acquisition, Denise Wilkinson has joined MWA as a field compliance officer from Sterling Financial Consultants. Additionally, Andrew Harvey and Ken Cook will be joining MWA FAC. Andrew Harvey will lead MWA’s expansion efforts in the South West of England.

MWA was established in 2016 by CEO Campbell Banks with the goal of introducing the holistic advisory model from his native Australia to the UK market. Campbell Banks boasts over 25 years of experience in building financial advice networks for major organizations in Australia, including ING, AXA Asia Pacific, and AMP.

In 2021, Ed Rosengarten joined MWA as Executive Chairman to help drive and accelerate its growth strategy. Rosengarten, formerly the Head of Funds at Smith & Williamson and with 20 years of experience at M&G, brings valuable expertise to the team.

The MWA group presently includes Eversley Wealth Management in Hertfordshire, Prosperity in Hampshire, and CHC Wealth Management in Essex, managing over £400 million in assets under administration. The company operates from multiple offices in Hertfordshire, Hampshire, Essex, Oxfordshire, London, Cornwall, and the Scottish Borders.

Campbell Banks expressed, “The acquisition of Sterling and FAC is another significant milestone for MWA as we begin to leverage the funds provided through our partnership with ThinCats. With several other ongoing acquisitions, our immediate goal is to expand our presence across the UK, increasing our advisor count to over 30 and growing our assets under administration to exceed £1 billion.”

Ed Rosengarten added, “We have positioned ourselves as a discerning acquirer and integrator of top-tier regional IFAs, and the acquisitions of Sterling and FAC exemplify our approach. Sterling and FAC clients can expect to continue receiving their customary high-level service, now complemented by the broader range of tools and scale that being part of MWA offers.”

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