Schroders-owned Benchmark Capital has reached an agreement to acquire Swindon-based Unique Financial Planning.
Unique is a firm of 32 advisers with £755m of client assets under advice. It has five offices across the South of England.
The business will continue to operate independently but with further support from Benchmark’s technology, training and development.
It will also have access to group resources across marketing, finance, people management and compliance services.
Unique said it was attracted by Benchmark’s integrated back-office, platform, client portal and investment solutions, as well as the broader practice management support and long-term outlook.
This is one in a series of acquisitions that Benchmark has made over the past five years. Unique will be one of over 25 firms joining the group this year.
Benchmark completed a deal to buy Northern-Ireland-based Kennedy Independent Financial Advice in March this year.
This was its second acquisition in Northern Ireland, after it bought Waterhouse Financial Planning in May last year.
In November last year, it completed the 100% acquisition of Advison. It also took a 49% stake in chartered financial planning firm Chartered Independent.
Commenting on the Unique deal, Benchmark managing director wealth Ed Dymott said: “Unique has built its practice over the last 30 years and has established itself as one of the most trusted businesses in its regions.
“The management team have been focussed on how they can achieve the next phase of their growth and find a partner which can support their clients for the next 30 years and beyond.
“We are delighted they have chosen to partner with Benchmark, and see strong alignment with our client focus, technology enablement and long-term outlook.
“We know that Unique, like many of the new advisers we are attracting, see significant benefits in our strategy, continued investment, and capital strength, with a focus on quality and independence.
“We’ve made a number of selective acquisitions over the last few years, and we continue to support over 175 advice firms.”
Unique chief executive Stewart Williams added: “We had many options when looking for a partner, but we were clear we wanted to work with someone who would invest in the business and support our vision for growth.
“It was also vital to provide security for our staff, our advisers and most importantly our clients, as well as a well-thought-out succession plan for the directors. Benchmark’s technology and support really stood out for us.
“Their long-term commitment to financial planning and focus on client outcomes was different to anything else we saw in the market.”
