Pivotal Growth has bought mortgage and protection broker Morrison Ward Associates for an undisclosed sum.
MWA operates out of London and has a core client base of mid-to-high net worth.
Pivotal Growth is a joint venture between LSL Property Services, the parent company of mortgage network Primis, and private equity firm Pollen Street Capital.
The deal is the 12th acquisition made by Pivotal Growth since it launched in 2021 as it looks to expand and build on its existing mortgage and protection broker offering.
MWA was founded in 2006 by chief executive John Morrison, who was given the ‘top overall adviser’ award within the Primis network for 12 consecutive years.
Morrison said: “MWA is delighted to join Pivotal Growth and very much look forward to working alongside other companies in the group; sharing ideas and practices to achieve growth, profitability, and diversity.
“I am certain that the next few years will be incredibly exciting for everyone involved and expect we’ll have more good news to celebrate in the future.”
Simon Embley, chief executive of Pivotal Growth, said: “MWA is a highly regarded mortgage and protection broker whose investment philosophy and strategic goals perfectly align with Pivotal’s.
“John Morrison also brings a wealth of experience to the wider Pivotal Group and so we are particularly looking forward to using his skills and expertise to enhance its capabilities.”
Back in April, Pivotal Growth bought mortgage and protection broker John Charcol Group Limited for an undisclosed sum.
John Charcol, established in 1974 as one of the first mortgage brokers in the UK, has offices in London and Southampton and manages more than 150 advisers.
amy.austin@ft.com
