The businesses will remain independent of one another, each operating under its own Financial Conduct Authority (FCA) authorisation, brand and proposition, but will benefit from the sharing of technology, specialist knowledge and collaboration.
The directors have begun recruiting more advisers to fill roles in both businesses.
Morgan (pictured, right) said the acquisition was “another important step in [the firm’s] long-term vision of creating more opportunities for advisers”.
There will be no changes to existing arrangements, remuneration structures or day-to-day support for Simpli Financial Solutions’ advisers.
Watts (pictured, left) said: “Combined with our investment in proprietary technology, a genuinely supportive culture and competitive commercial models, through this acquisition, we are creating an environment where ambitious advisers can thrive.”
The acquisition is subject to FCA approval.
