MKC Wealth, the boutique, independent wealth management firm, is delighted to announce that is has merged with Genius Wealth Management.
Northwich-based Genius has £150 million of assets under management and advises 300 private clients. Iain Crawford, MD, joins MKC Wealth in an ambassadorial role as he moves into retirement. Toni Haynes, Chief Operating Officer, joins MKC as senior compliance and operations manager along with two chartered advisers and six support staff. All will be based at MKC Wealth’s Stockport office. The business will operate under the MKC brand.
Commenting on the deal, Dominic Rose, CEO of MKC Wealth, said: “In keeping with our strategy of building a quality wealth management business we are completing selective mergers particularly where it is clear that we can be “the safe pair of hands” that retiring principals want to look after clients. There is such a strong cultural alignment between the Genius and MKC teams. I am delighted that the whole team has joined us meaning we have been able to facilitate the retirement of the business owner whilst giving the rest of the team the opportunity to thrive with us for the long term.
“Iain will play a significant role in the transition of clients to MKC Wealth. We are ahead of our initial plans and now have over £1bn of assets under advice. More importantly all our staff, including the Genius team, are rewarded directly based on feedback from our clients and have also become shareholders in the business we are building together”
Iain Crawford added: “At the start of the year, I began talking about my succession planning with Toni Haynes and we obtained a valuation from a firm which specialises in financial services businesses. From that initial conversation it quickly became apparent that our best option was to join forces with a larger firm with greater resources but one that still prides itself on a personal service.
” After an extensive search, I am delighted that we have found the right partner in MKC Wealth, the only firm we met that shared our ethos, professionalism, approachability and honesty that our clients need and deserve.”
Dominic Rose added “We have a very clear strategy for integrating the established businesses of retiring advisers. The acquisition of Genius is exactly the type of business that we believe can benefit from the resources and expertise we offer. We believe in total and long term commitment to clients, advisers and staff.”