ThinCats Funds Acquisition at HFMC Wealth

ThinCats, the leading alternative lender to mid-sized SMEs, has supported HFMC Wealth with its’ recent acquisition of R&S Associates Financial Planning Ltd in a deal which further strengthens its London office.

The transaction sees all R&S Financial Planning client-facing staff retained. Vince Lane continues to oversee his key client relationships. The team will be strengthened further with Darren Berry joining the team on a full-time basis.  Darren has previously looked after private clients at UBS and holds the Chartered Financial Planner status, is a designated Trust and Estate Practitioner through STEP and is a Fellow of the Personal Finance Society.

R&S advises over 100 families, many of whom have been clients for decades and, in some cases, over multiple generations. The deal will add to HFMC Wealth around £630,000 of annual recurring revenue and assets under advice of £145m. The average client size is £1.2m, which marries perfectly with HFMC Wealth’s High Net Worth proposition.

Jeremy Hoyland,m Chief Executive Officer at HFMC Wealth added: “Our growth strategy includes making carefully selected acquisitions. We worked hard during 2022 to identify planning firms which meet our high-net-worth criteria and that truly have the interests of their clients and staff at their heart. It is fantastic to have the backing of a funding partner like ThinCats, who are supporting our vision for the business.”

 “We continue to pursue other potential acquisitions with like-minded wealth and financial planning firms and expect further deals to be agreed in 2023 as we continue our growth strategy. We are building a sustainable financial planning and wealth management business that retains the depth of understanding and relationship that comes with being a client focussed business whilst providing the range of services normally associated with a Private Bank.”

Steve Ford, Head of Borrower Relationships, ThinCats said “We’re seeing a growing need for this type of lending in the IFA sector. We’re pleased to provide this funding to help support HFMC’s growth ambitions.”