A FERNDOWN-based mortgage broker has been sold to a Swiss financial group.

Davidson Deem Ltd has been sold to Lumin Wealth, part of the Swiss VZ Group, which has acquired the firm as it aims to grow in the UK’s mortgage industry.

Headed by Peter Stokes and Brian Keane, the firm was established in the industry in 1989 and has a proven track record with a team of qualified, impartial advisers.

Peter said: “Over the past 12 months, we have carefully ensured this transition is seamless for our clients.

“Not only will they continue to have access to our mortgage services, but they can also benefit from Lumin’s complete range of financial solutions, which spans everything from pensions and investments to retirement planning and protection.”

The Dorset company was helped though the sale by KBS Corporate’s associate director, Matthew Sibley.

“Peter and Brian have built a great business with strong financials and a large client base,” he said.

“KBS has a dedicated outreach team that can find the right buyers and Davidson Deem was an attractive opportunity to approach prospective acquirers with.

“Lumin has identified Davidson Deem as the ideal platform from which to build its own mortgage network.

“Peter and Brian have seen a great opportunity to grow with Lumin by upselling and cross-selling services across Europe, while offering further solutions to their own client base in the UK.”

He added: “I’m very happy with the outcome. I’m glad Peter and Brian have been provided with such a strong future for Davidson Deem — it will be a great acquisition for both parties.”

Lumin has offices in London, Cambridge and St Albans, managing client assets valued at over £1billion.

Davidson Deem was supported by Leilah Ashurst of Nexus Solicitors through the transaction.