Financial management firm completes takeover of West Midlands practice
Wed, 26 Jun 2024 | BUSINESS SALE
MPA Financial Management has expanded after completing the acquisition of a West Midlands wealth management firm. MPA, which is headquartered in Henley-in-Arden in Warwickshire, has acquired Suckling Waddington and Partners for an undisclosed sum.
Based in Worcester, Suckling Waddington has been providing wealth management services for more than 50 years. The company has been an appointed representative of MPA since 2018, when partner Alan Poole retired from the business and sold his 50 per cent share to the group.
MPA is now acquiring the remaining 50 per cent stake in the business as outgoing partner Gary Cowley retires. Following the acquisition, Suckling Waddington’s team will remain in Worcester, continuing to work with the company’s existing client base and retaining its longstanding brand.
Phil McGovern, Managing Director of MPA Financial Management, commented: "We have been partners with Gary and Suckling Waddington for over five years and they have always been a joy to work with.”
"Both our companies share the same core values centred on trust and delivering the best possible advice to clients and that will never change.”
McGovern added that it would be “very much business as usual” for Suckling Waddington, with MPA committed to retaining the brand and Worcester team “for many years to come”.
He continued: "We are already investing in the office, with new equipment and ongoing staff training, and are proud of our growing team of specialist advisers and support staff who will continue to serve our loyal clients to ensure they achieve their financial goals."
MPA, which has a team of more than 30 staff in Henley, manages more than £800 million in investments on behalf of its clients.
Consolidation is continuing at a rapid pace in the UK's highly-fragmented wealth management sector
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