Advanta Solutions Ltd has expanded its portfolio by acquiring City Financial Planning, a firm with offices in Bath and Exeter, adding £800 million in assets under management (AUM). This marks Advanta's second acquisition in 2024 and the ninth overall, as the company actively seeks growth opportunities following a significant investment from Beech Tree Private Equity.

With existing offices in London, Glasgow, and Dundee, Advanta provides a range of financial planning and insurance services through its subsidiaries, including Advanta Wealth, Advanta Mortgages, and Advanta Risk. The acquisition is expected to enhance Advanta's service capabilities and client reach across the UK.

Tim Quirke, director at City Financial Planning, expressed enthusiasm about joining the Advanta family, emphasizing the importance of finding a partner that shares their values and commitment to client service. He noted that the partnership would allow City Financial Planning to leverage Advanta's resources to enhance their service offerings and grow the business further.

Craig Webster, CEO of Advanta, highlighted the strategic significance of the new Bath and Exeter offices, stating that the acquisition strengthens their ability to serve a growing client base. He welcomed the City Financial Planning team, noting their strong reputation and the potential for collaboration in the future.

The deal was facilitated by the corporate finance team at Bishop Fleming, led by Joe Coghlan, Lindy Adams, and David Lock, who advised City Financial Planning's shareholders. Coghlan remarked on the positive outcome for the shareholders and the exciting future ahead as part of the Advanta Group.

Overall, this acquisition reflects Advanta's strategic growth ambitions in the financial services sector, positioning the company for continued success and enhanced client service capabilities.