The Penny Group is delighted to announce that it has completed its acquisition of Whiting Financial Limited. The Surrey-based financial planning firm was founded by Robert Whiting in 1987 and is part of the Openwork Partnership. Whiting has been providing financial planning advice to both individuals and corporates for over 25 years and brings £90m of assets under advice to the group.

The Whiting Financial team will continue to trade from their existing premises in Farnham, Surrey, and will integrate fully into the group over the next 12 months.  Access to TPG’s broader infrastructure and support – both in terms of people resource and technology – will allow the team to continue developing and improving its financial planning proposition to clients.  All Whiting Financial staff will remain in situ at the company, meaning there will be a seamless transition for both clients and staff.

This acquisition is a continuation of TPG’s targeted buy-and-build strategy which is designed to augment its organic growth initiatives. For the past 7 years TPG has been successfully engaging with practice owners in the Openwork Partnership early in their succession planning journey, thereby creating an environment of collaborative integration over time. Total assets under advice (AUA) now exceeds £1.2bn across close to 3,500 relationships and is forecast to more than double to £2.5bn over the next 3 years.

The Penny Group are the largest wealth management firm within the Openwork Partnership by AUA, and the largest chartered financial planning firm with 37 advisers.  This scale allows TPG to continue investing in its proposition and infrastructure, improving the offering to both clients and prospective practice owners who are considering their succession planning options.

 

If you are looking to sell your business, find out more about the selling process and how Gunner & Co. can help you. Book a meeting with our Head of Brokerage Gwill here