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Facts & Figures lines up another acquisition and targets client banks to boost business

by Rachael Revesz on Nov 23, 2012 at 11:38

Facts & Figures lines up another acquisition and targets client banks to boost business

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.’

1 comment so far. Why not have your say?

Compliance Doctor

Nov 24, 2012 at 10:41

Congratulations to Facts & Figures on their successful purchase.

As I am sure they will concur, due diligence is critical on these files, and the warranties obtained in the legal purchase agreement have to be robust and sufficiently clear to ensure that the files of the clients are compliant; or the liability rests with the seller.

Compliance Consultants can provide this service as an independent assessment to save the IFA sucking on their own exhaust fumes, and this also provides a benchmark of industry best practice that is only available from external subject matter experts. See the Association of Professional Compliance Consultants for details (http://www.apcc.org.uk)

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