Chartered Financial Planner Lumin Wealth has acquired the Big Picture Wealth Management, a financial adviser based in Ongar, Essex.
The deal, for an undisclosed sum, will add £85m in assets under management to the Lumin Group and is the sixth acquisition for Lumin since 2019.
In June the firm bought Dorset-based mortgage adviser Davidson Deem for an undisclosed amount.
Lumin Wealth is a financial advice and discretionary fund manager firm, with offices in St. Albans, London and Cambridge.
Lumin has expanded rapidly in the past couple of years and merged with Swiss financial services provider VZ Group in May 2021.
The acquisition of The Big Picture pushes total employee numbers at Lumin to more than 80, serving more than 3,000 clients and managing more than £1bn in assets.
Lumin acquired South East financial adviser Ashridge Financial Management in June 2022 and Hertfordshire-based financial adviser Enhance Wealth Management in March 2022. It acquired Hertfordshire IFA firm Chamberlain Stean and West in 2021 and London Financial Planner Everett MacLeod in 2020.
Lumin was founded in 2010 by Martin Cotter and John Cusins.
Mr Cotter, managing director of the Lumin Group, said: “We are delighted to welcome Ian Sedgwick and Jonathan Clark and their support team to Lumin Wealth.
“Their high levels of personal and business integrity and ethos of putting clients’ interests first will perfectly complement our existing culture here at Lumin. We look forward to working closely with Ian and Jon.
Ian Sedgwick CFP, Chartered MCSI, director at The Big Picture Wealth Management, said: “We are very pleased to be partnering with Lumin Wealth. It was important to ensure we found a firm with a shared emphasis on delivering high-quality financial advice, allied to a personalised approach that sees the client remain centre stage at all times.”
Fellow director Jonathan Clark ACII, CertPFS, said: “From what was a long list of interested acquirers Lumin stood out from the start. They were the perfect fit and soon became our number one choice. We were delighted they felt the same way and we now look forward to getting to know the whole team over the coming months.”
Lumin is continuing to look for suitable acquisitions of Financial Planning and financial advice firms.
