Lift Financial to take on 40 advisers in acquisition deal

Manchester-based Lift Financial is to acquire a 40-adviser firm as it embarks on rapid expansion this year.

The former New Model Adviser® cover star firm will expand into London and Edinburgh as a result of the deal, which will double its adviser numbers.

‘It’s a larger firm than we are. It’s like a reverse takeover,’ said joint chief executive Joel Adams (pictured).

He said Lift wanted to build on its organic expansion with acquisitions, adding the firm is set to acquire another IFA firm based in Edinburgh.

‘We founded the business three-and-a-half years ago and we’ve gone from eight staff to 36,’ he said. ‘We’ve done reasonably well with organic growth and see acquisition as a way to accelerate that.’

He said the plan was for the two acquired firms to continue trading under their current names with a view to adopting the Lift brand once all the businesses were aligned.

Adams said he could not disclose the firms’ names because the deals were not expected to be completed until the spring.