The financial terms of the transaction were not disclosed.

UK-based Wealth Club, the investment service for high net worth individuals has acquired Clubfinance, the execution-only discount broker. 

The acquisition will form what it believes to be the UK’s largest investment platform for high net worth and experienced investors, Wealth Club said in a statement.

Wealth Club expects that the Clubfinance business integration into its platform will be smooth. Existing Clubfinance clients will be able to access investment information, research and exclusive deals. 

In addition, clients will be able to apply online for Venture Capital Trusts and Enterprise Investment Schemes, and see all new investments in one place on Wealth Club’s online portal. Clubfinance will be run from Wealth Club’s head office in Bristol, and the company will be led by chief executive and founder of Wealth Club, Alex Davies. 

All existing Clubfinance employees will be transferred to Amberside Financial, which, amongst other things, provides services to Amberside Capital, an FCA-regulated fund manager, and Amberside Energy, a developer and asset manager of energy schemes, which is not part of the deal.

The financial terms of the transaction were not disclosed.

“Clubfinance fits perfectly with what we do and the acquisition supports our progression towards becoming the investment platform of choice for HNW and experienced investors, with best-in-class service, choice and research,” said Davies. “We believe with the pension restrictions beginning to bite as well as the new dividend tax and the crackdown on buy to let, demand for the products we offer is about to rocket. We look forward to helping HNW and experienced investors identify the best options, and making it much easier for them to apply and monitor their investments.”

Wealth Club provides high net worth individuals and investors with clear, impartial and information on investment opportunities not typically available through mainstream stockbrokers or financial advisors. Most of the employees and directors of Wealth Club previously worked at Hargreaves Lansdown.