Chester Rose Secures £4.9m OakNorth Facility to Acquire Bespoke IFA

OakNorth has provided a £4.9m loan facility to Chester Rose Financial Planning, specifically deploying £2m to fund the acquisition of Bespoke Independent Financial Advisors. The deal underscores a significant shift in how UK wealth management consolidators are financing their growth, moving away from pure equity towards sophisticated debt structures provided by digital lenders.

What was announced

Chester Rose Financial Planning has secured a £4.9m debt facility from OakNorth to accelerate its ongoing buy-and-build strategy. The immediate application of this funding is the acquisition of Bespoke Independent Financial Advisors (Bespoke IFA), a firm based in Crowthorne. This transaction represents the fourth acquisition for Chester Rose since its inception four years ago, following its previous integrations of Heritage Financial Advisers, Time Financial Planning, and Hencilla Canworth.

The acquisition is a significant scale event for the Newbury-based firm. It adds £250m in assets under advice (AUA) to the group’s portfolio, bringing the total AUA for Chester Rose to approximately £900m. Beyond the financial assets, the deal incorporates Bespoke IFA’s core professional team and a client base of more than 500 individuals and families. This expansion is designed to strengthen the firm's existing financial planning capabilities and geographic footprint in the South of England.

Historically, Chester Rose has utilised equity investment to fund its expansion. The transition to a multi-million pound facility from OakNorth marks a change in capital structure, intended to support a more scalable business model. The funding is structured to provide the flexibility required for the firm to continue its acquisition trajectory while maintaining its operational focus on personalised wealth management and independent financial advice across the UK.

"This acquisition is an important next step in our journey and demonstrates our ongoing commitment to building a firm not just of real scale but also of real substance. The addition of Bespoke IFA's team, clients and assets further strengthens our foundation, and we look forward to supporting these clients with the same dedication and care that defines our shared approach. Having previously funded our acquisitions through equity, we were keen to work with a lender that truly understands the IFA sector and our ambitions for the business. OakNorth's extensive experience supporting businesses in this space, combined with its flexible and commercial approach to lending, made it an ideal funding partner for this next stage of our growth."

Richard Dunbabin, CEO of Chester Rose

The companies involved

Chester Rose Financial Planning is a Chartered independent financial planning firm headquartered in Newbury, Berkshire. Founded in 2020 by CEO Richard Dunbabin, the company provides wealth management services to a national client base. The firm has distinguished itself in a crowded market through an ambitious buy-and-build strategy, successfully integrating multiple smaller practices to build a high-quality, scalable advice platform. It operates as an independent entity without a larger corporate parent, focusing on the delivery of bespoke financial advice to families and individuals.

OakNorth is a digital bank designed specifically for entrepreneurs and mid-sized businesses. Since its launch, it has become a prominent lender in the UK SME space, often filling the "missing middle" gap left by traditional high-street banks. The lender has developed a particular expertise in the financial services and wealth management sectors, frequently backing management teams looking to consolidate fragmented markets. Bespoke Independent Financial Advisors, the latest addition to the Chester Rose group, is a Crowthorne-based firm known for its independent advisory services and a substantial portfolio of private clients.

What this means

The UK’s Independent Financial Advisor (IFA) sector is currently a prime target for consolidation, driven by increasing regulatory costs and an aging population of firm principals looking for exit strategies. This deal highlights a maturing trend where consolidators are moving beyond early-stage equity funding into substantial debt facilities. For the broader fintech and banking industry, it demonstrates that digital-first lenders like OakNorth are successfully challenging traditional banks by offering more flexible, sector-specific terms that account for the recurring revenue models of wealth managers. The pressure is mounting on smaller, independent firms to either achieve critical mass through their own acquisitions or join larger, better-capitalised groups to remain competitive in a tightening regulatory environment.