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IWP UK acquires Prosper Wealth Management

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IFA acquirer, Independent Wealth Planners UK (IWP UK), has acquired chartered financial planning firm Prosper Wealth Management, the company’s sixth regional office.Prosper Wealth Management was founded in 2003 by David Barton and is headquartered in Wigan, Lancashire. Prosper will function as IWP’s main hub for the North West of England, with MD David Barton leading the team there and any further acquisitions that IWP might make in the area.

Prosper Wealth Management has grown organically over the last 16 years, as well as acquiring a couple of smaller IFA firms more recently. Prosper specialises in retirement planning and has very close relationships with most Wigan law and accountancy firms. Prosper will bring an additional 486 clients to the IWP group together with four advisers and six support staff. The acquisition also secures gross fee income of GBP1.35 million and an additional GBP170 million in funds-under-management.

David Barton, owner and founder of Prosper Wealth Management, says: “Having previously built Prosper both organically and through acquisitions, I completely understand the logic behind the IWP model. I had ambitions to grow Prosper Wealth significantly over the coming years, however to achieve this I really needed more support. My personal experience of going through the acquisition process with IWP has reassured me that they have both the resources and expertise to get the deals done. I am incredibly excited to be leading the IWP team in the North West of England and look forward to talking to IFA business owners that are looking to explore options for their businesses.”

David Inglesfield, IWP, CEO, says: “I am thrilled that IWP has expanded into the North West of England with an offering to serve the people of Lancashire and Greater Manchester. David and his team have a fantastic reputation in their local community and are a great fit for IWP. I have every faith that they will do an excellent job in growing our presence across the North West region.”

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