Elevation Financial Group (EFG), the Birmingham-based Wealth Management firm, has announced that it has acquired Innovate Financial Solutions, in a deal brokered by Gunner & Co. The deal will bolster Elevation’s presence in the South-East, maintaining the Essex office of Innovate, alongside their London office. This is the fourth acquisition made by Elevation in 2021. The acquisition of Innovate Financial Solutions is their 11th deal in the market.

EFG is a privately owned company which was formed in 2011, as a specialist National integrator of Independent Financial Adviser  practices throughout the UK. Established by IFAs, EFG delivers bespoke solutions for IFA firms looking to sell their businesses either now or in the near future.

As part of the agreement, Gary Lewis, director of Innovate Financial Solutions, will continue to work as a Consultant  in the South East, whilst his fellow director Tony Tillett will retire.

“Finding the right buyer for the business was so important – it’s not just about the financials,” Lewis said. “The key to the right deal is knowing our clients will be well looked after, and I am confident Elevation will exceed our clients’ expectations.”

“We’re an ambitious business, and it was a pleasure to use Gunner & Co. to help us actively grow through acquisitions,” said Tony Smith, Group Managing Director  at EFG. “Innovate Financial Solutions was a good match for us in terms of geography, clients and service offering, and we’re grateful to the team at Gunner & Co. for their management of the deal.”

Louise Jeffreys, MD at Gunner & Co. commented: “We’re delighted to assist both parties in structuring and completing this deal, despite the unusual working practices Coronavirus dealt us.  Both parties have been clients of Gunner & Co. for a number of years, so spotting the match came easy. The structure of the deal was tweaked to reduce risk to both parties, whilst delivering sufficient opportunity for all, especially Innovate clients.”

To discuss your long-term exit plans, speak with our MD Louise here.

Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.