Acumen Investment Partnership acquired by Newell Palmer

Macclesfield-based independent financial advisers The Acumen Investment Partnership has been acquired by Newell Palmer.

The deal – the 50th acquisition in Newell Palmer’s history, will see Acumen senior partner Nick Cosby retiring after two decades of working with clients in Cheshire and surrounding areas. The IFA’s 119 active clients will now be serviced by the advisory team at Newell Palmer’s Wolverhampton office.

Newell Palmer finance director Kevin Homfray said: “We work especially hard to find IFA firms that suit our own business model so I am delighted that we have hit acquisition number 50 in our celebratory 25th year.

“Nick’s firm aligns perfectly with the way we do things here at Newell Palmer and our Wolverhampton advisory team look forward to meeting and advising their new clients.”

Cosby said: “As my retirement approached, I knew I had to look for a successor to take on the firm that I have spent a large part of my career building.

“With Newell Palmer’s size and extensive resources, I am confident my clients will be well looked after, and I would like to thank Kevin and his team for making this a smooth transition.”

The acquisition – Newell Palmer’s 17th in partnership with brokerage firm, Boston Bailey Group – adds £35m to the company’s funds under management, which now stands at in excess of £2bn.

Boston Bailey Group divisional director Anne Clarke said: “Having worked closely with Newell Palmer over the past four years I am delighted the acquisition of The Acumen Investment Partnership has completed – thus marking our 17th deal since beginning our partnership, with more yet to come.”

Image: Nick Cosby, senior partner of The Acumen Investment Partnership (left) and Kevin Homfray finance director at Newell Palmer