Harwood Wealth Management Group has acquired the trade of Castleton Financial Planning, an independent financial advisory firm.

Completion is expected in April 2019, whereupon 50 percent of the purchase price (estimated at £1.6 million) will be payable. A further two instalments of 25 percent each are due to be paid on the first and second anniversaries of completion, depending on results.

This is Harwood’s second acquisition of the financial year, the first being Hampshire-based IFA GD White for £1.5 million.

Peter Mann, chairman said that the acquisition is in line with the firm’s strategy.

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