Wealth management and financial planning business Saltus has announced its purchase of Delta Financial Management, adding around £400m of client assets to its business.
Delta provides financial advice to more than 500 clients. It places a particular focus on advising business owners, media and entertainment industry clients and airline professionals.
The firm is based in Hertfordshire and was founded in 1980.
It supports clients across all areas of their financial lives, offering “bespoke planning through a collaborative, team-based approach”.
The acquisition represents the next step in Saltus’ long-term strategy of expanding its financial planning capabilities through the integration of “high-quality, client-centric businesses”.
The addition of Delta further strengthens Saltus’ presence in the regions Delta serves and enhances its overall advisory proposition.
Michael Stimpson, partner with responsibility for growth at Saltus, said: “Delta is a high-calibre business with a strong advice-led culture, excellent financials and a clear commitment to delivering long-term value to clients.
“This acquisition is a natural fit for Saltus and aligns with our ambition to grow by partnering with firms who share our values and focus on client outcomes. We are delighted to welcome the team to Saltus.”
Delta co-director Amin Malik said: “We are proud to have built a business rooted in integrity, technical excellence and genuine care for our clients.
“Saltus shares that philosophy and brings additional scale, capability and investments in technology that existing and future clients will certainly benefit from.
“We’re excited about what we can achieve together in the years ahead.”
Jarrod Ellis, co-director at Delta, added that the partnership will help take the business to “another level” in terms of its client offering and spend more time with its clients.
The integration process is expected to complete within 12 months.
Delta’s team of nine people will remain in place, with directors Ellis and Malik becoming partners at Saltus.
Clients of Delta will continue to work with their current advisers and support teams, with the added benefit of Saltus’ additional infrastructure and expertise.
In March last year, Saltus brought in Bronek Masojada as chair to support the firm’s growth agenda.
With a wealth of experience garnered from his previous role as chief executive of Hiscox, Masojada has brought “invaluable insight and leadership” to the Saltus board.
