A Worcester-based financial management firm has been acquired by a wealth management specialist.

The specialist, Warwickshire-based MPA Financial Management, has completed the purchase of Suckling Waddington and Partners (SWP) as part of an ongoing succession plan.

SWP has been an Appointed Representative of MPA since 2018.

The initial purchase of a 50 per cent share of the firm occurred after the retirement of SWP partner Alan Poole.

The remaining stake has been acquired from outgoing SWP partner Gary Cowley.

MPA Financial Management is a leading UK wealth management company.

Over the past decade, the firm has featured in the Top 100 Adviser firms in the UK by Citywire.

The company is said to oversee more than £800m in investments on behalf of their clients.

Their team includes over 30 staff members based in their head office in Henley-in-Arden, Warwickshire.

With over 50 years of operation, SWP has established a presence providing wealth management services in Worcester.

Despite the acquisition, there will be no relocation.

SWP staff will continue to operate from Worcester serving their local clients, with many relationships spanning multiple generations.

MPA's managing director Phil McGovern said: "We have been partners with Gary and SWP for over five years and they have always been a joy to work with.

"Both our companies share the same core values centred on trust and delivering the best possible advice to clients, and that will never change.

"MPA is committed to keeping the SWP brand and team in Worcester for many years to come, so it is very much business as usual.

"We are already investing in SWP’s office, with new equipment and ongoing staff training, and are proud of our growing team of specialist advisers and support staff who will continue to serve our loyal clients to ensure they achieve their financial goals."