A financial advice firm in Worcester has been taken over by an international organisation.

Canaccord GenuityWealth Management has acquired Worcester firm McCarthy Taylor.

The city firm is an independent financial advisory firm, based in Worcester, with chartered financial planners serving clients across the Midlands.

Founded in 1998, McCarthy Taylor provides financial planning and investment management and manages client assets of approximately £171 million.

The addition of McCarthy Taylor is said to be part of CGWM’s plans to expand its national footprint and broaden its offering of investment and wealth planning services.

David Esfandi, chief executive officer of CGWM said: “The acquisition of McCarthy Taylor represents an opportunity to expand our Midlands presence and creates a regional financial planning centre of excellence, which will be fully supported by our broader UK team.

“Together we share an unwavering commitment to expanding our offering of best-in-class, fully-integrated investment management and wealth planning services to discerning investors across the UK.”

Paul Taylor, Founder, CEO and majority shareholder of McCarthy Taylor will continue to be actively involved in the business to help with the transition to CGWM.

“Today marks an exciting chapter in the evolution of our business, and I am confident that joining Canaccord Genuity Wealth Management will bring significant benefits for our clients and our employees as we expand our services and opportunities.

“I look forward to working with our new colleagues to leverage our complementary resources and expertise and build upon the success that we have built for our business over 21 years in the Midlands.”

McCarthy Taylor, based in Edgar Street, Worcester, was founded by accountant Paul Taylor and gives advice to individual and commercial clients.

Canaccord Genuity Wealth Management was set up in 1950 and has offices located in Canada, the UK, Guernsey, Jersey, The Isle of Man and Australia.