Lumin Wealth has renewed its hunt for acquisitions with the purchase of Chamberlain Stean and West, a Hertfordshire-based financial adviser.
The firm has £75m in assets and brings Lumin’s group assets above £600m.
Owner and director Christ West is retiring, but the firm’s other senior directors Colin Chamberlain and Mike Williams will be joining Lumin alongside other paraplanners.
West said: “Whilst this is the end of an era for me, it is the beginning of an exciting partnership between CSW & Lumin that will bring even more support and opportunities for our clients “
This is the latest acquisition for Lumin which acquired London-based IFA Everett MacLeod in January 2020.
That deal brought £45m of assets to the firm. At the time, Lumin managing director Martin Cotter said the firm would pursue further acquisitions in 2020.
But with Covid-19 putting the country into repeated lockdowns, no further deals materialised.
Now, with the CSW deal, Cotter is optimistic once again about growing the firm through acquisitions.
“I would like to thank Chris West, Colin Chamberlain, Mike Williams and the team at CSW, we are delighted to welcome them to Lumin Wealth,” he said.
“We know that our tried and tested integration formula provides an attractive new home for advisers and their teams, personalised to their requirements.
"Our plan puts the continuity of the client’s financial planning journey at the forefront of everything we do. We continue to look for similar firms who share our values to join the Lumin family."
In April 2019, Lumin made its first acquisition by acquiring local financial planning firm Hyperion.
That deal brought £85m of assets to the firm.
Jon Yarker is a freelance reporter for FTAdviser
