National IFA firm Wren Sterling has acquired the advice branch of clients from Northern Ireland-based firm First Trust Financial Services Limited .
The deal includes the transfer of 17,000 policies from First Trust to Wren Sterling IFA. This transfer has been conducted due to First Trust’s parent company, AIB Group, decided it would focus their operations on banking, whilst wishing to maintain independent financial advice to their customers.
Paul Chafer, chief commercial officer at Wren Sterling commented on the acquisition, stating, “The opportunity for us to further expand our distribution into Northern Ireland is perfect for Wren Sterling’s growth plans”.
Mr Chafer spoke further, reasoning Wren Sterling’s growth strategy by emphasising the growth of the market for IFA’s. He quotes that market “will grow in the near future, as clients look to build plans to weather the volatility in the market, while institutions and employers and employers seek to add value to their offerings.”
The chief commercial officer for Wren Sterling linked increased demand in the past 12 months for services to pensions and retirement to uncertainty with events such as Brexit.
This isn’t the first time Wren Sterling has acquired part of another company’s books, with Wren Sterling signing a deal to provide independent financial advice to Leek United Building Society recently in October this year.
