Mortgage broker SPF Private Clients has been bought by the insurance brokers Howden. 

Howden, which offers a range of insurance and wealth management advice services, including a high net worth division, says the acquisition enables it to create a “full-spectrum British broker”.

SPF’s chief executive Mark Harris will remain CEO of SPF, which will now be part of Howden’s UK & Ireland business. 

SPF was formed in 2011 after a management buyout and rebrand of Savills Private Finance, the financial arm of Savills estate agency. In 2018 Cabot Square Capital acquired a majority stake in the business. 

SPF today offers residential and commercial mortgage broking, commercial real estate insurance, high net worth personal lines insurance, property title insurance, life assurance and associated wealth management consulting.

Mark Harris, CEO, SPF says: “SPF and Howden are highly complementary businesses. SPF will benefit from the significant opportunities that being part of Howden will deliver, with a big drive into offering our debt product lines across the group.”

Howden Broking Group deputy CEO Chris Evans says: “Howden and SPF have a long-established trading relationship, so SPF joining the Howden family is a natural next step in our partnership.” He says the acquisiton will enhance Howden’s offering and allow it to diversify into complementary product distribution.

Howden currently has 110 high street branches, currently branded as A-Plan. It is also in the process of completing the purchase of Aston Lark, an employee benefits provider.