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The wealth management arm of South West financial service group Cooper Associates has acquired Devon-based Pengilly Cox Financial Associates for an undisclosed sum.

Headquartered in Taunton, Somerset Cooper Associates operates throughout the region, and also offers mortgage advice and accounting services.

Founded in 2014, Barnstaple-based Pengilly Cox is a financial associate firm with a workforce which has 50 years of combined experience.

Cooper Associates Group’s chief executive Samantha Jackson, said there was an “instant synergy” between both firms, which are both appointed representatives of Gloucestershire-based FTSE 100 firm wealth management firm St James’ Place.

Ms Jackson said: “Founders Beverley Pengilly and Stephen Cox reject the ‘one-size-fits-all’ approach to financial advice, in keeping with how we operate. Everything they do is client-centric which complements us perfectly.”

Following the agreement Ms Pengilly and Mr Cox will join Cooper Associates Wealth Management alongside two of the company’s current employees Vanessa Coe and Helena Standen.

Beverley Pengilly said: “We’ve always been very careful about who we work with, knowing that our success to date has been down to the level of service we offer.

“Happily, Cooper Associates Wealth Management share the same concerns and approach as we do, making this the perfect partnership. I look forward to the new opportunities this creates for both brands.”