Harwood Wealth has revealed it has three acquisitions in the pipeline, with ‘heads of terms’ confirmed with the potential purchases.
Peter Mann, chairman of Harwood, commented: “Against the backdrop of turbulent equity markets the group continued to deliver in line with its strategy.”
“Our strategic aim is to deliver profitable growth across three areas: organic, through both the existing client base and attracting new clients; acquisitions of small to medium sized financial advisory and wealth management businesses which can help to fuel future organic growth; together with improving the efficiency of our operations and economies of scale as the business grows.”
The AIM-listed advice firm released the following statement: “Whilst we face competition from other acquirers of IFA businesses, we do not believe the level of competition is very different from our experience over the last decade.
“The factors driving the supply of IFA businesses remain very similar and include the growing regulatory burden facing IFAs and the simple fact that many IFAs are considering retirement.”
