Towergate buys M2 Financial in bid to build national firm

Towergate Financial Services has made its first acquisition since announcing it had raised over £100 million to build a national IFA firm, taking on M2 Financial. 

Nottingham-based M2 is the sixth IFA firm to be bought by the advisory arm of insurance broker Towergate Partnership, and will become the group’s East Midlands hub as it builds its national status over the next three years.

Patrick Snowball (pictured), chairman of Towergate Financial, said the firm’s strategy was to build a well capitalised regional advisory business operating under the Towergate brand.

‘M2 is a very successful business with high quality clients and advisers. This acquisition is a vital part of our expansion plans in the Midlands and Mark will be working with us on further acquisitions in the region,’ he added.

Managing director of M2 Financial Mark Howard will remain with the firm, saying that Towergate was the 'ideal partner' to support the company in its next phase of development.