Lync Wealth Management expands presence in Northern Ireland with two acquisitions

Lync Wealth Management has announced the acquisition of two Belfast-based financial planning firms, bringing its Northern Irish assets under advice (AUA) past £350m.

Carleton Financial Planning and R J Savage Asset Management have both joined Lync Wealth Management, adding around £300m in AUA.

Combined with Lync’s existing business in Northern Ireland, North Financial Management, the firm’s regional AUA total over £350m, with each firm continuing to serve clients from their Belfast offices.

Lync has 22 offices across the UK with 120 advisers, serving clients with around £4bn of AUA, and has identified Northern Ireland as a key growth market.

The firm is backed by its owner, an affiliate of the 7IM Group, and aims to build a Northern Ireland business serving over £1bn of client assets through a mixture of organic growth, adviser recruitments, and further acquisitions.

“These acquisitions reflect our M&A strategy, which is to look for high-quality firms who want to accelerate their growth, and we support them with the resources of Lync and 7IM's private wealth capabilities, while preserving what makes them successful today - their independence, culture, colleagues, and local relationships,” said Lync and 7IM chief corporate development officer, Agustin Fernandez.

“We remain open to further acquisitions, in the region and across the UK."

7IM CEO, Dean Proctor, said the firm was “proud” of the business it was building in Northern Ireland and saw a significant opportunity for future growth.

“Belfast's strong financial services sector and deep pool of talent make it an important part of our long-term strategy,” he added.

“Our growth in the region has been built through strong relationships, shared values and a commitment to delivering high-quality financial planning.

“The addition of Carleton Financial Planning and RJ Savage Asset Management represents another important step in that journey.”

Carleton Financial director, John Bamber, commented: “This is an exciting chapter for our business, with Northern Ireland continuing to be one of the UK’s major financial services centres.

“By joining forces with Lync, we’re combining the strengths and resources of three excellent firms to create a strong regional base, meaning clients can expect even greater value, delivered with the same personal service and expertise.”

RJ Savage Asset Management financial adviser, Ronnie Savage, added: “We've built our business on understanding this market inside out, and that local expertise doesn't get replaced when you join a bigger group, it gets amplified.

“Northern Ireland's financial services sector is thriving, and it's encouraging to see that recognised through this level of investment. We're looking forward to being part of the next stage of growth here alongside Lync.”

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