Suttons IFA expands with acquisition of whitewell financial planning

A financial planning and wealth management firm has expanded with the acquisition of a Bolton-based company.

Suttons Independent Financial Advisors, based in Sale, Greater Manchester, has acquired Whitewell Financial Planning for an undisclosed sum.

A team at the Manchester office of law firm Bermans advised Suttons on the deal.

Whitewell, which was founded in 2008 by Phil O’Connor, provides financial planning, investment and retirement planning advice to individuals, business owners and directors, senior medics and other professionals across the north west and beyond. It has nearly £40m of client assets under management.

Following the deal, Phil is continuing to work closely with Suttons and will be the main point of contact for his clients. He is a chartered financial planner and is accredited by Resolution as an independent financial adviser.

Resolution is a membership organisation for lawyers and other professionals committed to constructive, non-confrontational ways to resolve divorce, separation and other family-related legal issues.

Suttons, which was established in 2006 by Harvey Sutton, has 20 staff and £240m of client assets under management.

It is a chartered financial planning firm providing wealth management, tax, pensions and retirement planning advice to a client base which includes professionals, business owners and entrepreneurs. Its services also include providing advice on mortgages, equity release, illness and life insurance and savings.

Revenues for Suttons’ current financial year, which runs until June 30, are on track to reach a record £3.3m. Whitewell is its third acquisition.

Suttons’ managing director Ben Preston said the firm continues to seek suitable acquisitions to further drive its growth plans.

He added: “Phil has built a business that genuinely puts his clients first and we’re delighted to welcome them to Suttons. Whitewell is a great fit for us, as we share the same commitment to delivering a first-class financial advice and wealth management service that makes a meaningful difference to the lives of our customers.

“By merging our firms, we’re able to offer Whitewell’s clients a broader range of services and expertise, the support of our larger team and ultramodern digital infrastructure that underpins our firm.

“We are pleased that Phil will be working closely with us on an ongoing basis to ensure a smooth and seamless transition for every client, and we look forward to working with them for many years to come.

“We continue to seek opportunities to make further acquisitions of quality owner-managed businesses which are a good fit, while at the same time we are growing strongly organically by gaining new clients, many of whom come to us on the recommendation of our existing customer base.”

Phil O’Connor said: “There was interest from a number of parties, but I felt Suttons was the right fit for the business. Suttons is a well-established chartered firm with a strong local reputation and a commitment to personal advice. We share the values that matter to me, of honesty, independence and putting clients first.

“I will be working alongside their advisers going forward and will continue to be my clients’ adviser and main point of contact. Suttons will handle the administration and support behind the scenes. For customers of Whitewell, all of their plans and arrangements will continue uninterrupted.”

Bermans corporate partner Robin Hastings and the firm’s head of commercial Richard Riley advised Suttons on the acquisition.

Robin said: “We have worked with Harvey and Ben at Suttons on a variety of matters over the last few years, and it is always a pleasure dealing with them. This latest acquisition will help them broaden their business offering and client base, and we look forward to working with them again in the future as they continue with their expansion strategy.”

Law firm Schofield Sweeney advised Whitewell on the sale. The deal was brokered by Brian Hill of Pathfinders.

ENDS

Notes to editors

The attached photographs show:

1. L-R Harvey Sutton, Phil O’Connor and Ben Preston
2. Robin Hastings of Bermans

For further information, contact Kevin Feddy at Kevin Feddy Media via 0161 300 8543 or 07770 543112 or [email protected]

Bermans is a full-service commercial law firm with offices in Liverpool and Manchester. It offers commercial law services to owner-managed and SME businesses as well as providing specialised services to the asset finance and invoice finance sectors. Since 2022, the firm has been part of the MAPD Group.  https://www.bermans.co.uk/

https://www.suttonsifa.co.uk/