In a significant move for the Welsh financial sector, the Caerphilly-based Thomas Carroll Group has agreed to sell its wealth management business, Thomas Carroll Independent Financial Advisers (IFA), to the rapidly expanding Titan Wealth.
Deal Details and Strategic Shift
The acquisition, which is currently awaiting regulatory approval, will see the transfer of a substantial client portfolio. Thomas Carroll IFA manages over £160 million in assets under advice for approximately 450 clients. Established in 1987, the firm has built a strong reputation for providing comprehensive financial planning services, including retirement and pension advice, trust and estate planning, and investment management.
As a direct result of the transaction, three financial advisers and five client service and account managers from Thomas Carroll IFA will move over to Titan Wealth. This sale follows the Thomas Carroll Group's recent transition to an employee-owned model.
Leadership Perspectives on the Acquisition
Rhys Thomas, Chief Executive of Thomas Carroll Group, commented on the strategic decision. He stated that after becoming employee-owned, the board made the choice to divest its wealth management division to a trusted long-term partner.
"The deal allows Thomas Carroll Group plc to focus on its core areas of strength, insurance, risk management, health and safety and employee benefits," Thomas explained. He further emphasised Titan Wealth's proven track record in acquiring and integrating smaller firms, noting their expertise, technology, and infrastructure would allow the business to continue to flourish, benefiting both the team and its clients.
Titan Wealth's Expanding Footprint
This acquisition marks a strategic expansion of Titan Wealth's existing presence in South Wales. The deal comes as Titan is also on the verge of finalising its purchase of Cardiff-based Nugenis, which trades as Independent Wealth Partners (IWP).
Formed as recently as 2021, Titan Wealth has quickly become a major force. Headquartered in London, it offers a full suite of wealth management solutions, from financial planning and investment management to platform and custody services. The firm serves both retail and institutional clients across the UK and internationally through its operations in the Channel Islands and the UAE. Titan Wealth now boasts an impressive £36 billion in assets under management or advice.
