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IWP acquires Midlands-based Financial Planner

Independent Wealth Planners UK (IWP) has acquired Financial Planning firm Donald Wealth Management in its tenth deal of 2020, for an undisclosed sum.

Based in Sutton Coldfield with assets under administration of £135m, Donald Wealth Management was founded in 2003. It is led by managing director Jamie Donald.

Donald Wealth Management will join IWP’s Midlands hub Alexander Grace.

Jamie Donald, director of Donald Wealth Management, said: “As a family firm it was important to me to find the right fit for our clients and our business. In joining Alexander Grace and IWP we have found a group that truly keeps clients at the heart of everything they do. I’m excited for this next chapter of Donald Wealth Management, accessing support and infrastructure as part of Alexander Grace and IWP while focusing on what we do best, looking after our clients”.

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Neil Padget, CEO of Alexander Grace, said: “I am delighted to have Donald Wealth Management join the Alexander Grace team. With decades of experience delivering for clients Jamie has built a great business and I am excited to work together, continuing to grow as part of Alexander Grace.”

David Inglesfield, CEO of IWP, said: “I’m thrilled to see Donald Wealth Management join Alexander Grace. This is the third excellent local firm to become part of Alexander Grace in 2020. We are proud of our investment in the region as we aim to make great independent local advice available to more people.”

The acquisition is the second addition to IWP’s Midlands hub within the past month. Last week IWP acquired Leamington Spa-based Financial Planning firm Bishop Armstrong for an undisclosed sum

IWP has bought several Financial Planning and IFA firms in recent years including Scottish Financial Planning firm Gilmour Hamilton Wealth Management, West Midlands based Financial Planning firm Beyond Financial, Southern-based Financial Planning firm Hunter Hammond Daniel Associates, and Milton Keynes based Financial Planning firm Carnelian Capital Management in the past four months

IWP’s growth strategy is to acquire local firms but leave day to day management in the hands of local teams who may also retain a participation in the ownership of the business.

In November, Financial Planning Today did an exclusive interview with IWP CEO David Inglesfield about his plans for expansion, what he has learnt from building five wealth management businesses, and his passion for beekeeping. 

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