Titan Wealth has announced its intention to acquire the South Wales-based advisory firm, Thomas Carroll Independent Financial Advisers (IFA), from Thomas Carroll Group.

Founded in 1987, Thomas Carroll IFA provides financial planning solutions for retirement planning and pensions, trust and estate planning and investment management. It currently has more than £160m of assets under advice across 450 clients.

Titan Wealth said that the acquisition marks its expansion in South Wales, with Thomas Carroll IFA staff joining Titan’s existing Welsh hub, Nugenis.

The London-based firm provides solutions and outcomes to both retail and institutional clients, both domestically and overseas through its operations in the Channel Islands and the UAE. It currently has approximately £36bn of assets under management or advice.

Titan Wealth added that the acquisition is set to enable Thomas Carroll IFA to offer a greater range of services to its clients.

Thomas Carroll Group chief executive officer, Rhys Thomas, 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 to focus on its core areas of strength, insurance, risk management, health & 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."

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