Financial planning and wealth management firm Suttons Independent Financial Advisors has acquired Wilmslow-based KSP Financial as it continues to expand across the north west.
KSP Financial advises clients across Cheshire and surrounding counties on pensions and retirement planning, financial planning, investments and life insurance.
The firm, which was founded in 2019 and has £10m of assets under management, is headed by Keith Phillips, who will remain as a consultant following the transaction.
KSP Financial’s client base includes entrepreneurs, company directors and professionals ranging from solicitors and architects to surveyors, headteachers and engineers, along with retirees.
Robin Hastings, a corporate partner at north west law firm Bermans, advised Suttons on the deal. David Owen of Bluefriars Acquisition Services advised KSP Financial. The financial terms of the deal are undisclosed.
Suttons, which was established in 2006 by Harvey Sutton, is based in Sale, Greater Manchester.
The chartered financial planning firm provides wealth management, tax, pensions and retirement planning advice to a client base that includes professionals, business owners and entrepreneurs. It also advises on mortgages, protection and savings.
The deal for KSP Financial follows Suttons’ acquisition last year of Bolton firm Whitewell Financial Planning. Alongside organic growth, the transactions have increased Suttons’ assets under management to more than £330m.
Ben Preston, managing director of Suttons, said the firm continues to seek suitable acquisitions as it looks to expand further.
He added: “Keith has developed a strong and loyal client base at KSP Financial, and we are thrilled to welcome them to Suttons.
“We’re also pleased that Keith will continue working with us, ensuring continuity for his clients and a smooth transition.
“They will continue to receive the high standard of advice they value, now strengthened by our wider expertise and resources, and we look forward to supporting them for many years ahead.
“This latest acquisition further underlines our strategic focus on sustainable growth, combining carefully-selected partnerships with ongoing organic expansion as we continue to invest in the long-term future of the business.”
Keith said: “I have always said that financial planning is about much more than products or markets – it’s about people, trust and being there through life’s changes.
“The values that matter to me – honesty, independence, putting clients first – are shared by Suttons, which is a well-established chartered firm with a strong local reputation and a commitment to personal advice.
“Joining Suttons is a move that I believe best serves my clients’ long-term interests.
“It’s telling that many elements of my own business are also used by Suttons, including identical platforms and cashflow modelling software and the same discretionary investment managers.
“This should ensure a seamless transition for my clients, and I look forward to introducing them to the team at Suttons over the coming months.”
Robin Hastings said: “It was a pleasure advising Suttons on another complex but friendly deal following the recent Whitewell Financial Planning acquisition.
“There are clear synergies between Keith, his client base and Suttons. Bermans is active in this sector, and, with our specialist knowledge and experience, we are very much looking forward to assisting Suttons with additional acquisitions and expansion.”
