The Lighthouse Group has acquired Manchester and Milton Keynes, UK-based Carrwood Barker, an independent financial advisor and self-invested personal pension business.

Lighthouse is one the of the UK’s largest independent wealth management groups and the deal, said to be worth GBP3.3 million, continues its policy of promoting growth through acquisition. This policy has seen it acquire Berkeley Wodehouse Associates in April 2002, Canada Life advisers in November 2002, and the advisers of RJ Temple in 2003.

Lighthouse intends to raise the majority of the funds for the acquisition from new ordinary shares from investors.

Lighthouse chairman David Hickey was quoted by MoneyMarketing as saying: Carrwood Barker has an excellent market position, through its business relationships with a significant number of firms of chartered accountants through the UK.