Titan Wealth has completed its acquisition of Prism Financial Advice after receiving regulatory approval from the FCA.
The wealth manager said Prism is now fully incorporated into the group and will benefit from access to its wide array of complementary products and services.
Titan Wealth’s assets under management and advice now total £17.3bn
The acquisition, which was announced last October, also expands Titan Wealth’s geographical footprint to encompass the Prism offices in Gateshead and the North East.
Prism has a team of 17 independent financial advisers, 25 support staff and £630m assets under advice. The business has extensive expertise within financial planning including pensions, investments and protection.
Titan Wealth is a client to custody business offering custody, platform, discretionary fund management and financial planning. The group targets £50bn in assets under administration over the next three to five years.
Last month, the group also completed the acquisition of Square Mile Investment Consulting and Research.
It said the two acquisitions help it move further towards its long-term growth ambitions and aim to provide a fully integrated client to custody solution for its clients and customers.
Andrew Fearon, Joint Group CEO & Head of M&A at Titan Wealth said: “We are delighted to have been granted change of control by the FCA on our acquisition of Prism. This deal with Prism perfectly complements our recently confirmed acquisition of Square Mile, with the former strengthening the group’s advice capabilities and the latter building our strength in asset management.
“Together, the deals help us further develop the group’s unique fully-integrated, client to custody approach. I really look forward to working with the Prism team in Gateshead going forward.”
Stephen Price, managing director at Prism, added: “The completion of this acquisition by Titan Wealth marks the start of an extremely exciting journey for our two companies. Prism is thrilled to become a part of the Titan Group, following in the footsteps of a number of other fantastic businesses that Titan Wealth has acquired in the last few years.
“With the Titan Wealth group expertise behind us, we will be able to provide an enhanced advice and service offering to our many clients, while achieving our long-term growth ambitions for the company.”
