Leading Alternative Finance Provider Supports Ambitious IFA Business

Irwin Mitchell’s Banking team has advised leading alternative finance provider ThinCats on a long-term partnership with London-headquartered MWA Financial (MWA).

The partnership with ThinCats marks the start of “phase two” for MWA. This will see it complete on a number of live acquisitions designed to take adviser numbers to more than 30 and assets under administration (AUA) above £1bn over the next 12 to 18 months.

ThinCats will provide MWA with access to its pool of transitional debt capital, which provides exiting IFAs with a distinctive and attractive alternative to the large number of consolidators in the market.

Expert Opinion

“I am delighted to have worked with ThinCats on this latest deal and I believe they are an excellent partner for an ambitious business such as MWA. The business is on a fast growth trajectory and with such an MWA has an excellent and experienced management team, I have no doubt they will continue to be successful in the future.” Daniel Webster, Banking & Finance partner at Irwin Mitchell.

Launched by Chief Executive Campbell Banks in 2016, the MWA group currently includes Hertfordshire-based Eversley Wealth Management, Hampshire-based Prosperity and Essex-based CHC Wealth Management and has more than £400m AUA.

Ed Rosengarten joined the business in 2021 as Executive Chairman to help execute and accelerate its growth strategy. Before joining MWA, Rosengarten was head of funds at Smith & Williamson. Before that he was at M&G, latterly as Chief Executive of the firm’s equity business.

Commenting on the partnership, Rosengarten said: “With the phase one foundations successfully in place, our focus for phase two is on accelerating adviser and asset growth through carefully selected acquisitions and targeted organic growth.”

“The partnership with ThinCats provides us with the complementary capital required to execute our strategy, positioning MWA as an attractive and capable owner-managed alternative to the abundant acquirers in the market.”

Other advisers included Brachers, Mazars and Clarke Wilmott.