WEALTH management experts have completed a major deal to become one of the largest privately-owned advice firms in the region.

Garbutt + Elliott Wealth Management which is part of York-based accountancy, advisor and audit firm Garbutt & Elliott, has completed its acquisition of HKA (FS) Ltd for an undisclosed sum.

Founded in 2003, HKA provides wealth management services and has more than £250m of assets under advice.

The firm operates from offices in York and Leeds working with individuals and family businesses in Yorkshire and across the UK.

All staff will remain in the business with seven financial planners moving across to strengthen the G+E Wealth Management team, bringing the total number of financial planners to 20.

HKA’s director David Booth has successfully grown the business since inception and will remain with the firm, joining the G+E Wealth Management Board.

Rob Simpson, managing director, G+E Wealth Management, said: “We are delighted to complete the acquisition of HKA which makes us one of the largest privately-owned advice firms in the region.

" It will be business as usual for both of our clients at HKA and G+E Wealth Management who will benefit greatly from the combined expertise and knowledge of our teams and provide access to Garbutt + Elliott’s wider accountancy services.

"HKA is an impressive firm with an excellent reputation and I’m looking forward to welcoming David and his team to the group.”

David added: “This is an incredibly positive and exciting step for everyone associated with HKA, especially our clients and employees.

"G+E Wealth Management share our core values and client centred ethos.

"Our clients will continue to experience a seamless and bespoke service from our financial planners. Combining our strengths will allow both our clients and employees to benefit from the considerable additional resources and enhanced support available as part of the Garbutt + Elliott group. We are looking forward to being part of their continued growth journey to be the best regional financial services team.”

Russell Turner, managing partner at Garbutt + Elliott said: "Having the HKA team on board is an important strategic step for G+E, driving growth and ensuring our excellent reputation goes from strength to strength. I’m looking forward to working with David and the exciting opportunities we can create in the future."