Thomas Carroll Group sells wealth management business

CaerphIlly headquartered financial services group Thomas Carroll has sold its wealth management business to Titan Wealth.

The value of the deal for Thomas Carroll Independent Financial Advisers, which is subject to regulatory approval, has not been disclosed.

Thomas Carroll IFA provides financial planning advised solutions from retirement planning and pensions, trust and estate planning, investment management and more. Established in 1987, it has grown to manage over £160m of assets under advice serving 450 clients.

The acquisition expands Titan’s existing presence in South Wales, It is also about to close on its acquisition of Cardiff-based Nugenis (the trading name of Independent Wealth Partners (IWP).

As part of the deal three financial advisers from Thomas Carroll IFA and five client service and account managers will be transferring over to Titan Wealth.

Rhys Thomas, chief executive of Thomas Carroll Group, said: “Having recently transitioned to employee ownership, the board has decided to divest its wealth management division to Titan Wealth, a trusted partner of ours for many years. The deal allows Thomas Carroll Group plc to focus on its core areas of strength, insurance, risk management, health and safety and employee benefits.

“Titan Wealth has a great track record in acquiring and incorporating smaller wealth management firms and investing into these businesses. It has the wealth of expertise, technology, and infrastructure to allow the business to continue to flourish, benefitting both our wealth management team and its clients.”

Titan Wealth was formed in 2021 and offers wealth management solutions spanning financial planning, investment management, platform, and custody. Headquartered in London it serves clients, both retail and institutionally, domestically as well as overseas through its operations in the Channel Islands and the UAE. It has around £36bn of assets under management or advice.