Kreston acquires Kent Financial Planning firm

The deal was finalised this week.

Craven Street Wealth is led by Chartered Financial Planner and managing director Tom Barnett and was created by London corporate finance firm Craven Street Capital.

Craven Street Capital created the group with the simultaneous acquisitions of Canterbury-based Kreston Reeves Financial Planning and Christchurch Investment Management Ltd in March 2021.

Funding for the transactions is being provided by Shawbrook Bank, a challenger bank.

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The takeover of Tarvos Wealth boosts Craven Street Wealth to 18 Financial Planners, nine with Chartered Financial Planner status.

As part of the deal, retiring Tarvos managing director Simon Ludden has introduced his clients to other Financial Planners within the firm, providing the company with his notice to retire two years ago.

All Tarvos staff will remain within the business and continue to be based in their Canterbury office. Kreston says Tarvos Wealth will eventually merge into the wider Craven Street Wealth group.

Tarvos employs three Financial Planners, a Paraplanner Karen and a three-strong client support team.

Kreston says the deal will add more services for Tarvos clients along with new investment propositions, platform technology and systems. The firm also believes it will keep client costs down through the scale of the Craven Street Wealth group.

Kreston MD Mr Barnett said: “Not only does the combined business provide additional scale which we intend to embrace for the enhancement of services to clients, but also expands our advice team which operates with an exceptionally broad range of skills and professionalism. We very much look forward to making announcements on our plans as they continue to develop.”

Chartered Financial Planner and director of Tarvos Wealth Ruth Dolan said: “We see this as a natural fit with both companies aligning their culture and vision, to continue to provide a high standard of advice and service to clients. With both firms’ historic roots in the accountancy and legal sector, it gives us a fantastic opportunity to continue to build a trusted service upon which other professionals can rely for their clients.”

Mr Ludden of Tarvos added: “In my view the firms are a perfect fit, with our experience working with the legal profession and theirs with accountants. We are very excited about the possibilities that this brings for our staff and our clients and though I shall be looking forward to my retirement, part of me wishes that I could stay on to watch the company grow.”

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