News

Financial advice firm secures £500,000 loan to fund expansion

08 Oct 2026 2 minute read

Oliver Pughe, Penguin Wealth Planners; Kelly Freeman, Banc Datblygu Cymru; Arushi Jolly, Banc Datblygu Cymru; Craig Palfrey, Penguin Wealth Planners; Gavin Baos, Penguin Wealth Planners

Nation.Cymru staff

An independent financial advice firm has secured a £500,000 loan to expand its business through the acquisition of another company’s client book.

Cardiff-based Penguin Wealth Planners received the funding from FW Capital through the British Business Bank’s Investment Fund for Wales.

The loan has enabled it to acquire the client book of Cowbridge-based Seren Financial Advisers. Penguin Wealth had previously funded three similar acquisitions itself.

Established in 2010, the company employs 34 people and recently recruited two senior financial advisers. Its services include retirement planning, investment management, tax planning and financial protection.

It also has a contract with the National Lottery to provide financial advice to winners in Wales who receive prizes of more than £1 million.

Craig Palfrey, a certified financial planner at Penguin Wealth Planners, said the retirement of independent advisers was creating opportunities for further acquisitions.

He said: “As more independent advisers begin to retire, we are seeing an increasing number of opportunities to make strategic acquisitions that align with our values and our commitment to client service.”

Mr Palfrey said the funding had allowed the company to complete the acquisition while retaining capacity to consider further opportunities.

Rhodri Evans, fund manager at FW Capital, said: “The business operates in a market undergoing significant change, creating opportunities for well-run firms to expand.”

Bethan Bannister, senior investment manager at the British Business Bank, said the fund was designed to help smaller businesses across Wales access finance to invest and grow.

The Investment Fund for Wales launched in 2023 and offers loans ranging from £25,000 to £2 million, alongside equity investments of up to £5 million.

FW Capital manages the fund’s larger loans, ranging from £100,000 to £2 million.

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