London IFA ropes in former M&G equity boss for ambitious growth plans
MWA Financial is planning to acquire a number of advice firms over the next three to five years
MWA Financial has roped in former M&G equity boss Ed Rosengarten as it eyes plans to become a national IFA firm.
Rosengarten, who has been a strategic adviser to the business since 2019, is now executive chairman and will help the firm execute its growth strategy.
Before joining MWA, Rosengarten was head of funds at Smith & Williamson and prior to that, spent 20 years at M&G, the last 10 years as chief executive of the firm’s equity business.
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London-based MWA Financial has acquired Hampshire-based Prosperity Financial Advisors & Stockbrokers to bolster its growth plans to become a national IFA firm.
The deal takes MWA’s assets under influence to £300m ($418m, €351m) and its adviser headcount to 15.
Under the terms of the agreement, Prosperity will keep its branding within the MWA group.
Prosperity co-founders Mark Newman and Jasper de Zoeten will remain in their positions until the transition is complete.
The financial terms were not disclosed.
Ambitions
MWA is “planning to acquire a number” of quality advice firms over the next three-to-five years and has secured undisclosed funding from investment manager Triple Point.
London-based consolidator MWA Financial headed by former M&G equity boss Ed Rosengarten has acquired its second advice firm. Rosengarten, who joined MWA in 2019 as a strategic adviser to the business, has now been appointed as executive chairman to help execute its growth strategy. Prior to joining MWA,