Twelve Wealth Management (TWM) has announced the acquisition of Smith Hobbs Wealth Management for an undisclosed sum.

Both companies are partner firms of St. James’s Place, with Smith Hobbs to be integrated into TWM.

TWM said that Smith Hobbs was a strategic fit that would strengthen its advisory capabilities and improve the support available to its clients.

Smith Hobbs Wealth Management managing director, Matt Smith, will be joining TWM as part of the acquisition.

Smith is a chartered fellow of the CII and CISI, and has extensive wealth management experience following his time as private banking and advice manager at Lloyds Bank.

TWM stated that the acquisition would result in greater support for clients from a larger, experienced team, more touchpoints and faster service, and broader shared knowledge and expertise across the firm.

“I’m thrilled to be joining Twelve Wealth Management,” said Smith. “This move represents an exciting opportunity to build on the foundation we’ve established at Smith Hobbs.

“TWM’s scale, expertise, and shared vision for quality advice and a personal service will enable us to deliver even more value and insight to clients as the financial landscape continues to evolve.

“I’m looking forward to continuing my active involvement within the team and supporting clients with their financial journey.”

TWM managing director, Marc Norris, added: “We’re delighted to welcome Matt and his clients to Twelve Wealth Management. His professionalism and client-focused approach are an ideal fit for our team.

“This acquisition marks an exciting step forward in our growth journey, strengthening our capabilities and ensuring we continue to deliver the highest standard of advice to our clients.”

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