Newell Palmer has just completed its second acquisition in the month of October with the purchase of Worcestershire-based Tinsdale Investment Management. Newell Palmer completed on the acquisition of AbacusOne Financial Services 2 weeks’ ago, following an introduction from Gunner & Co.
Tinsdale have been looking after client investments in Bewdley and the surrounding Worcestershire area for more than 20 years.
This acquisition marks the latest move in Newell Palmer’s ambitious growth strategy which has seen it acquire 39 IFA firms since 1998. Further acquisitions are planned during quarter 4 of 2016; continuing into 2017.
Tinsdale will add a further £11 million to Newell Palmer’s funds under management, which is fast approaching £1billion of ‘on platform’ assets. The deal also boosts the number of active clients Newell Palmer works with by 55.
Wolverhampton-based Newell Palmer has more than quadrupled its FUM in the last five years, growing through acquisition and referrals. Acquisitions to-date have ranged between £30k to £2m in consideration; meaning that if the client ethos of a firm is comparable to Newell Palmer’s then, there is no one too big or too small to fit into the company.
Speaking about the purchase, Newell Palmer Finance Director, Kevin Homfray, said:
“It is a busy but exciting time for Newell Palmer. With AbacusOne completing last week and Tinsdale coming on board today, I think we are making a statement of our continued growth intentions in a period when others acquirers might be hesitant”.
Nigel Tinsdale, Principal of the acquired company, said:
“As an IFA business owner planning to retire, my priority was to find another IFA who would look after my clients and continue to offer them a first class service. We soon came across Newell Palmer, a company with a solid reputation for excellent client service. Kevin and his team made the process very straightforward and I am thrilled that the deal has been completed.”
If you’d like to know more about Newell Palmer’s acquisition proposition contact louise.jeffreys@gunnerandco.com
