View the article online at http://citywire.co.uk/new-model-adviser/article/a636348
Facts & Figures lines up another acquisition and targets client banks to boost business
by Rachael Revesz on Nov 23, 2012 at 11:38
Ashford-based Facts & Figures Chartered Financial Planners is preparing to make its second acquisition of the year, having completed the purchase of a local rival in July.
Facts & Figures acquired Sevenoaks-based Insurance Services for Business, boosting its assets under advice by £10 million to £50 million and adding 200 clients.
Insurance Services for Business was an appointed representative of network Burns Anderson, which was part of Honister Capital.
Facts & Figures’ managing director Simon Webster (pictured) said the deal had taken longer than anticipated to complete due to Honister entering administration.
‘We finalised the deal in July but, sadly, it has taken a long time to go through,’ he said.
‘We’ve just completed one [acquisition], we’re half-way through doing a second one and we’re looking for more.’
Webster said he planned to continue his hunt for acquisitions and was targeting client banks from retiring advisers.
‘We are looking to add additional clients to the business,’ he said. ‘We are happy to buy the renewal stream from advisers who want to exit the industry or are retiring.’
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.
More about this article:
What others are saying
by Hyman Wolanski on Jul 31, 2014 at 16:02