Lumin Wealth buys London-based Gresham Financial Strategies

UK-based financial advisory firm Lumin Wealth has expanded its national footprint with the purchase of Gresham Financial Strategies.

Financial terms of the transaction were not disclosed.

The acquisition of London-based Gresham adds over £140m ($189.7m) in assets under management (AuM) to Lumin’s books.

It marks the firm’s eleventh purchase since 2019, pushing its total AuM past £1.5bn.

“The latest acquisition supports our wider strategy to grow through targeted partnerships with like-minded firms, those which are aligned with our long-term vision for expanding Lumin Wealth reach organically,” the firm said in a LinkedIn post.

As part of the deal, Gresham employees will join Lumin’s London office.

Gresham director David Turner said: “We were impressed by their long-term vision and focus on building a strong, truly client-focused business. Lumin’s reputation as a trusted and well-regarded firm gave us confidence that our clients are in safe hands.”

Lumin, which has offices in St Albans, London, Bishop’s Stortford and Beaconsfield, is majority-owned by Swiss financial services group VZ Group.

In May 2021, VZ Group acquired a 50.1% stake in Lumin with plans to buy the remaining shares within five years.

Lumin VZ Group CFO Markus Graf said: “This acquisition strengthens our London presence and strategic objective to expand our footprint in the South East. By partnering with firms that share our culture and standards, we’re building a stronger business that delivers consistent value and service excellence to more clients.”

The deal follows Lumin’s acquisition of the mortgage division of RBS Associates in March. This came after its June 2023 tie-up with mortgage adviser Davidson Deem that added mortgages to its offering.

“Lumin Wealth buys London-based Gresham Financial Strategies” was originally created and published by Private Banker International, a GlobalData owned brand.

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