MKC Wealth has announced the acquisition of financial planning firm Wealth for Women for an undisclosed sum.

Wealth for Women is based in London and was founded by Mary Waring a chartered accountant, chartered financial planner and a certified women’s coach.

Waring is leaving the financial advice sector to concentrate on her coaching role for women going through divorce. She will support the training of MKC Financial Planners and will introduce new clients she works with in her coaching capacity to MKC for regulated financial advice.

Dominic Rose, CEO of MKC Wealth, said: “We are delighted to acquire this specialist business. Financial planning for women is critical and differs from mainstream advice. Acquiring this business gives us a greater insight into this important area.

“We will look to build on the work that Mary has been doing to empower women in the arena of financial planning. We will do this under a new brand of MKC Wealth for Women. The intention is that we will grow this brand and train financial planners in this important and underserved area.”

Waring added: “When I decided to sell my financial planning business, I wanted to find a buyer that would build on the personal service that I have provided over many years, focus on goals-based planning and more importantly understood how to work with people who were vulnerable.

“I have always treated the majority of my clients as having temporary vulnerabilities due to being going through the divorce process. Not all financial planners know how to deal with vulnerability, it can be complex and requires a specific set of softer skills to manage. When I met the team at MKC, I knew we shared the same values and duty of care to our clients and was confident they would be the right custodians for my clients going forward.

“As an indication of my confidence in the team, I am also transferring my own personal investments to MKC Wealth.”