Personal Asset Management Wealth, based in Knighton, has been advising households in the area since 1999.
The company has secured the hefty investment from the British Business Bank-backed Investment Fund for Wales.
The money will enable the firm to start planning for the recruitment of two additional financial advisers.
The business currently has more than 550 clients and manages nearly £60 million in funds.
It provides advice on mortgages, investments, pensions, and tax liabilities, and currently employs two full-time advisers, two part-time support staff, and a full-time office manager.
The Investment Fund for Wales, launched in 2023, provides a range of finance options including loans from £25,000 to £2 million and equity investments up to £5 million.
The aim is to help small and medium-sized businesses in Wales start up, scale up, or stay ahead.
The Investment Fund for Wales helps increase the supply and diversity of early-stage finance.
Director Ian Cadwallader is one of two financial advisers at the business and has served as part of the team since 2001.
Mr Cadwallader said: “The support we’ve had via the Investment Fund for Wales has given us the scope to look ahead at hiring new advisers, which will help us grow our business and maintain our regulatory commitments.
“As a local, family-oriented business which has really got to know our clients over the last few years, it was important to us that we were able to maintain those long-term, face-to-face relationships within communities and households in Mid Wales.
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“With 550 clients, we couldn’t keep up reviews with just two advisers.
“This loan will allow us to hire two more in the next year, meaning we can continue to build on the service we’ve provided locally for decades.”
Rhodri Evans, a fund manager at FW Capital, one of the fund’s three delivery partners, said: “Personal Asset Management Wealth are trusted advisers, with a customer base built up over decades of strong relationships with local households and communities.
“We’re very pleased that they are the first investment we’ve made into this part of Wales, and the targeted support provided by the fund will help them to grow and widen their work to an even larger customer base in future.”
Bethan Bannister, senior investment manager for nations and regions investment funds at the British Business Bank, said: “The £130m Investment Fund for Wales was launched by the British Business Bank to support successful businesses with growth ambitions.
“It’s wonderful to be able to support Personal Asset Management Wealth in their continued plans for expansion.
“It’s great to see FW Capital deploying the Investment Fund for Wales in this region of Wales.
“Personal Asset Management Wealth’s expansion bolsters their longstanding reputation and we hope that this investment delivered through FW Capital contributes to their ongoing commercial success.”
Personal Asset Management Wealth was the first Mid Wales-based business to receive an investment from FW Capital.
