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Hires, buys and charity rides: news from IFAs around the UK

Advice firms across the country have been busy with acquisitions, new hires and charity work.

IEP brings in private banker for Eastbourne office

Hove-based IEP Financial has appointed adviser Jonathan Morgan to run its new branch in Eastbourne.

Morgan previously worked in private banking for Hottinger and Co, Julius Baer, and Investec Asset Management. He was also a stockbroker with Killik & Co. after completing a Short Service Commission as an infantry officer in the British Army.

Ian Poysden (pictured), managing director of IEP Financial, said the branch marked an important step in the company’s expansion. ‘It means a huge deal to us to be taking our first steps towards expanding across the South East,’ Poysden said.

IEP has hired financial adviser Richard Cotton, a former consultant at Legal & General.

IEP brings in private banker for Eastbourne office

Hove-based IEP Financial has appointed adviser Jonathan Morgan to run its new branch in Eastbourne.

Morgan previously worked in private banking for Hottinger and Co, Julius Baer, and Investec Asset Management. He was also a stockbroker with Killik & Co. after completing a Short Service Commission as an infantry officer in the British Army.

Ian Poysden (pictured), managing director of IEP Financial, said the branch marked an important step in the company’s expansion. ‘It means a huge deal to us to be taking our first steps towards expanding across the South East,’ Poysden said.

IEP has hired financial adviser Richard Cotton, a former consultant at Legal & General.

Humble not one to brag after huge charity ride

Mike Humble, a chartered financial planner at national IFA firm LEBC Group, rode 381 miles from Venice to Rome over four days, across the Apennines, to raise £10,000 for Macmillan Cancer Support.

The LEBC Group supported Humble’s fundraising under the charity initiative Inspire, and donated £2,500 to the cause.

Humble has raised around £65,000 since starting charity bike riding in 1997.

He said: ‘Over the years I have lost many family members, friends and clients to cancer and Macmillan have always been there to support them and their families.’

‘This includes my youngest brother and one of my longest standing clients. She had been a client for 25 years when she died in 2009,’ he said.

Newell Palmer makes double acquisition

Wolverhampton-based Newell Palmer has bought Leicester-based Abacusone Financial Services and Bewdley-based Tinsdale Investment Management. Nigel Tinsdale, principal of Tinsdale, and Abacusone director Paul Stokes are both retiring from advice.

The two firms bring a combined £19 million in funds under advice to Newell Palmer, taking their total to around £1 billion, having more than quadrupled its funds under management in the past five years.

Newell Palmer managing director, Philip Stepp (pictured), spoke to New Model Adviser® earlier this year about the challenge of keeping in line with the Financial Conduct Authority (FCA) expectations on client communication when novating client banks.

The FCA has said firms need to improve communicating changes to fees and proposition.

Stokes said he was happy to hand his clients over. ‘With my own life moving overseas to South Africa, it was essential that I found a suitor that could offer the level of client service that I have for so many years.’

Newell Palmer finance director, Kevin Homfray, said purchasing firms with a good business model was integral to Newell Palmer’s growth strategy.

Marathon men go the extra mile for epilepsy

John Skipton and Martyn Brown (pictured below), advisers at Poole-based firm PFM Associates, have run a half marathon in aid of Epilepsy Research UK.

The charity is close to Brown’s heart. ‘It started as a family thing really,’ he said. ‘My son suffers from epilepsy and I wanted to give something back.’

The pair have raised around £1,500 so far and are hoping to reach the £2,000 mark. Skipton ran in the Bournemouth Marathon Festival on 2 October, while Brown ran in the New Forest Half Marathon on 11 September, finishing in two hours, 10 minutes.

Brown said: ‘Mine was a multi-terrain half marathon which is run over mud and gravel. So it was pretty tough.’

Gibbs Denley makes model business move

Gibbs Denley, which has offices in Cambridge, Bury St Edmunds and Chelmsford, has expanded its offering by gaining discretionary fund manager permissions.

‘We are delighted to offer our clients a discretionary investment management service that will enable us to enact changes to model portfolios without delay,’ says investment manager Tom Sparke.

‘We are optimistic this development will contribute further to the high performance standards we have demonstrated over the past seven years,’ he says.

The firm's director and chairman is Mark Denley (pictured).

Offering Charitable advice

Reigate-based Concept Financial Planning is offering pro-bono guidance sessions to clients who do not want regulated advice to help raise £5,000 for depression awareness charity, the Lucy Rayner Foundation, and learning disabilities charity, Us in a Bus.

‘If clients want to pay us, we instead encourage them to provide a donation,’ managing director Paul Richardson (pictured) says. ‘With smaller charities, a small amount of money can make a huge difference.’

To donate to Concept’s charity efforts, visit: uk.virginmoneygiving.com/team/Conceptfp

Social networking in Manchester

On Thursday 6 October the New Model Adviser® team travelled to Manchester to host a networking evening for local advisers.

The event was held at the quirky office of accountancy and wealth management firm Sedulo Wealth Management, where advisers enjoyed socialising in the events area ‘The Regency Club’.

Many thanks to Sedulo, which is run by director of wealth management Paul Lindfield (pictured), and all who attended!

Paraplanner prospects

Clear Financial Advice is seeking a paraplanner to join its team in Billericay.

‘Our client bank has been rapidly expanding over the past couple of years,’ says director Howard Bullock. ‘The support of a paraplanner will allow us to focus more closely on the financial planning support that we provide.’

The role involves research, analysis and preparation work for Clear’s advisers, as well as liaising with administrative staff.

For more information, contact enquiries@clearifa.com

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