Ludlow acquires Blackpool wealth management firm

Southport-based Ludlow Wealth Management Group has acquired Blackpool-based financial adviser Opus Wealth Management in a deal which could be worth as much as £1.4m.

Ludlow, a subsidiary of Mattioli Woods, has acquired the firm's entire share capital for £710,000 which could increase by a further £710,000 if performance targets are reached over the next year.

Opus provides financial planning and wealth management services to more than 100 private client families with around £53m of assets under advice.

Ian Hemingway, chief executive officer of Ludlow, said: “Opus is a business we know well.  I expect our familiarity with the Opus team and our shared approach to looking after clients to facilitate a smooth integration over the next few months.

"This acquisition further strengthens our operations in the North West as we look to build upon our existing presence in the area.”