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Ascot IFA scooped up in £1.6m deal with Harwood Wealth

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Ascot IFA scooped up in £1.6m deal with Harwood Wealth

Financial advice and discretionary wealth management business Harwood Wealth Management has acquired Ascot-based retirement specialist IFA Plan65 for £1.56 million.

P65, which has £42 million assets under advice, is owned by Keith Turner and Doug Rae who both plan to retire follow completion.

The initial cash consideration of £810,068 will be funded from Harwood's existing cash resources. Deferred consideration of £747,296, payable in two instalments, will be payable over the next 24 months, subject to adjustment based on the relevant performance criteria.

The firm will be integrated into the Harwood’s subsidiary, Compass Wealth Management Consultants.

Peter Mann, non-executive chairman of Harwood said: ‘In line with our strategy to acquire IFA firms which share our values and culture, we are very pleased to have completed the asset acquisition from P65. Since its inception in 2011, Keith and Doug have built a successful business and we wish them well for their future. We look forward to continuing to provide P65's clients with continued expert advice and exceptional service.’

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