Towergate continues to buy firms country-wide

Towergate Financial is adopting a hubs-and-spokes approach to buying firms, snapping up large businesses in key areas and then using those bases to bring in smaller advisers.

Paramount Group in Leeds has become the latest hub to be acquired in the northeast and follows the purchase of M2 Financial in the Midlands last month.

Stuart Rouse (pictured), Towergate Financial chief operating officer, said that the companies it buys with its £100 million war chest keep their brands but some will eventually come under Towergate's.

He said that it was looking for firms that are ‘well run, well managed and that have good clients.’

‘We will work on our own and with the new business to find more businesses; it is a hubs and spokes approach,’ Rouse said. ‘We want to open out across the UK and grow our client base.’