Shipman Group, the Exeter-headquartered firm of independent financial advisers, has acquired MHA Monahans Wealth Management from chartered accountants MHA Monahans, continuing the development of its plan to create a significant regional hub to support clients in the South West.
The deal, which completed on 5 January 2022, is the second significant acquisition of a respected local firm by Shipmans following the acquisition of Exeter and Plymouth based Cathedral Financial Management at the start of 2021. Under the leadership of CEO Peter Ellis, and with funding and support from Amber River, the Group has now grown to 25 advisers based across five locations.
Under the terms of the agreement, the newly rebranded Shipman Monahans Wealth Management will continue to be based at the Bath, Swindon and Trowbridge offices and all 27 members of staff will remain in place, with Simon Ewings continuing as Managing Director. As part of the deal the business will also retain its strong relationship with the team at MHA Monahans Accountants, working together to continue to provide a market-leading service to clients.
Commenting on the deal, Peter Ellis said: “I’m delighted to welcome Simon and the team at MHA Monahans Wealth Management into the group. This is another significant milestone for our business, made possible as a result of the funding and guidance of Mary-Anne and the team at Amber River. With their backing and support we have been able to attract another highly-respected firm of IFAs to the Shipman Group. This brings development opportunities to our combined staff, proposition improvements and wider choice to existing clients and an opportunity for more people in the South West to benefit from market-leading independent financial planning services.”
Commenting on the sale, Simon Tombs from MHA Monahans Accountants says: “In Peter and the wider team at Shipman and Amber River, we have been lucky to find a partner with a focus and dedication to client outcomes similar to our own. We are thrilled with the outcome of the deal and the way it has been done, securing what I believe will be an exciting opportunity for the team and an enhanced service proposition for their clients.”