Titan Wealth has announced its intention to acquire Chester-based financial advice firm Innes Reid Investments Limited.

The acquisition will add £590m of assets under advice (AUA) to Titan Wealth’s £38bn of AUA and management, with Innes Reid becoming part of the Titan Wealth Group.

Innes Reid provides a range of financial planning advised solutions to its client base, which includes high net worth individuals, business owners, and retirees.

Its core services encompass investment portfolio management, retirement and pension planning, inheritance tax and estate planning, and protection solutions.

Founded in 1999 and led by founder, Mark Reidford, the business manages around £590m of AUA for 2,500 clients and has a team of 10 financial advisers.

The acquisition, which is subject to regulatory approval, will see Titan Wealth growing its presence in north west England.

“We’re excited to welcome the highly experienced Innes Reid team,” said Titan Wealth joint group CEO and head of M&A, Andrew Fearon.

“We’re looking forward to strengthening our financial planning advice in Chester and the surrounding area.

“This acquisition boosts our regional footprint in the UK and strengthens our ability to deliver locally based relationships for all our clients.

“We look forward to working with their team to make available the extensive range of client-focused solutions that we now have for all our advisers at Titan Wealth.”

Innes Reid managing director, Mike Reidford, added: “This acquisition is a positive step in strengthening the long-term sustainability of Innes Reid.

“It allows us to enhance the support, resources and infrastructure behind our advice, ensuring we can continue delivering positive client outcomes in everything that we do.”

---