Generic Financial Management MD Paul Thomas will head up business development and provide executive coaching as part of HFMC Wealth’s adviser development programme.

‘Ticks All Boxes’

Thomas said: “We have felt for some time that we needed a partner to provide us with greater critical mass if we are to cope with the ever-increasing regulatory burden, while broadening the range of services we are able to provide to our clients.”

He said his firm had found a partner who “ticks all the boxes” in HFMC Wealth, adding the deal was “protecting the legacy of the business we are proud to have built.”

HFMC chief executive officer Jeremy Hoyland said making carefully selected acquisitions was part of the group’s growth strategy.

He added: “The development of Generic’s professional staff has evolved in a similar manner to ours. Like us, the firm has attracted high-quality, committed professionals and has invested in its training and development.

“We continue to work on other potential acquisitions with like-minded wealth planners and financial planning firms and expect further deals to be agreed during the next year.”