According to a stock exchange announcement, Hargeave Hale snapped up an additional 1.3 million shares in Harwood.
The move lifts Hargreave's stake to 3,683,000 million shares, or a 5.8% stake in Harwood.
Shares in Harwood were subject to profit taking today, trading 6.5% lower at 180p at 11am, giving Hargreave's stake a value of around £6.6 million.
At the end of March Harwood - which previously raised £13 million when it listed on the junior market in 2016 - placed a chunk of shares at 150p each, a 14% discount to the secondary market valuation.
In conjunction with the placing, joint Harwood chief executive Neil Dunkley, his wife Sian Dunkley and commercial officer Mark Howard agreed to sell 1.3 million ordinary shares at the placing price.
The £10 million raised from the placing will be used to extend Harwood's acquisition spree, which saw it make 17 purchases last year for a combined £11.6 million.
These included the acquisition of Tunbridge Wells private client manager Wellian.
The group’s hectic schedule has lifted internal assets 75% to just over £2 billion. Client assets more than doubled over the periof from £276 million to £693 million.
In a statement accompany the placing Harwood said it had a strong pipeline of acquisitions.
'The group has signed heads of terms in respect of a further six acquisitions, at an aggregate estimated consideration of approximately £3.1 million which, if completed, would add an estimated £156 million of AUA [assets under advice],’ it said.
‘In addition, the current acquisition pipeline, where proposals or draft heads of terms have been issued to vendors, includes a further nine proposed acquisitions, which would, if successfully completed, add an additional estimated £960 million of AUA at an estimated aggregate consideration of £14.95 million.'
Harwood Wealth was founded in 2001 by Dunkley and Mark Howard as Compass Wealth Management.
The group is now co-led by Wealth Manager cover star Alan Durrant (pictured) alongside Dunkley.