News

5
Oct

Newell Palmer acquires AbacusOne Financial Services

Newell Palmer has just completed its 38th acquisition with the purchase of Leicestershire-based AbacusOne Financial Services.
AbacusOne has been providing advice to clients in Leicester and surrounding areas for more than 20 years. This acquisition marks the latest move by Newell Palmer in their continued growth strategy.
This is the first acquisition for Newell Palmer this year and it was made possible with the help of professional IFA introducers, Gunner & Co.
The acquisition of AbacusOne brings an additional £8 million of funds under management and 75 active clients who will be serviced by Newell Palmer’s Nuneaton office.
Wolverhampton-based Newell Palmer has more than quadrupled its FUM in the last five years, growing through acquisition and referrals, with a clear strategic plan. 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:
“Acquiring IFA firms is an integral part of our growth strategy and we are always on the lookout for firms that fit well with our business model.
“AbacusOne is an excellent example of a company that aligns to our model and we are delighted to have them on board.”
Paul Stokes, Principal of the acquired company, said:
“With my own life moving overseas to South Africa, it was essential that I found a suitor that could offer the level of client service that I have for so many years.
“After an extensive search, I was thrilled to find Newell Palmer were a company that shared my values and ethos, and I am confident that the level of service my clients receive will only get better.
To learn more about Newell Palmer’s acquisition proposition contact louise.jeffreys@gunnerandco.com