Truinvest continues acquisition spree with two new firms
By Sonia Rach 5
th March 2021 8:22 am
Truinvest is continuing its acquisition spree with the purchase of NLP Financial Management and Birchwood Investment Management, taking the total number to four.
The firm, which launched in 2019 and identifies itself as a “market disrupter”, was co-founded by former Mattioli Woods chief operating officer Mark Smith and M&A director Micky Johal.
It is currently backed by family office Stonewood Wealth Management, which has injected an undisclosed amount of funding.
Last year, the firm acquired Group Rapport in March and Bromwich Financial Planning in May. Truinvest said the latest additions to its portfolio, combined with its previous acquisitions, will take its assets under advice and management to almost £1.1bn.
Ex-Mattioli Woods COO says ‘detailed discussions’ are already underway over further acquisitions
UK financial services group Truinvest has acquired NLP Financial Management and Birchwood Investment Management as part of its five-year growth strategy targeting annual revenues of £50m ($69.1m, €58m).
The financial terms of the deals were not disclosed.
Both firms will operate under their own brand name while being integrated from both an operational perspective and the investment proposition to clients.
The combined businesses provide financial planning and investment management services from two offices in London and Hertfordshire.
The addition of NLP Financial Management and Birchwood Investment Management to previous acquisitions, Group Rapport and Bromwich Financial Planning, means the company is already handling assets under advice and management of almost £1.1bn.