New nationwide independent financial advice and fund management firm One Four Nine Group has launched with the acquisition of two financial advisory firms, Charter Financial Planning and Rice Whatmough Crozier, bringing 7 advisers and over £300m in assets under management to the Group.
Charter Financial Planning has a 40-year history offering a comprehensive suite of financial planning services to clients in Preston and the North-West area. The business has 3 experienced advisers and 8 support staff with over £100m in assets under management.
Rice Whatmough Crozier, the investment and pensions advisory firm based in Middleton, Greater Manchester, was established in 2010 following a management buyout from the professional services firm Deloitte. With 4 senior advisers and 7 support staff the business manages over £200m in assets under management.
Collectively, Charter Financial Planning and Rice Whatmough Crozier service over 700 clients.
Copper Street Capital, the private equity investor focussed on the financial services sector, has agreed terms to provide significant capital to support the growth strategy of One Four Nine Group.
Matthew Bugden, Chief Executive Officer, One Four Nine Group commented:
“We are very happy to welcome the teams from Charter Financial Planning and Rice Whatmough Crozier to the One Four Nine Group. Both firms are successful businesses with highly skilled advisers; we look forward to working with them and enabling them to spend more time with their clients.
“We are keenly aware of the challenges facing advisers today in a market that has become increasingly fragmented. With regulatory and administrative burdens progressively taking up ever greater resources, One Four Nine Group offers quality advisory firms the opportunity to have access to a central investment proposition whether it be a bespoke discretionary solution, model portfolios or tax efficient alternative investments along with extensive support to reduce the administrative and regulatory burden on advisers.
“Our management team have collectively spent decades building extensive relationships within the adviser industry, giving us a unique insight into the firms we are looking to connect with. As 15% of advisers are expecting to sell in the next 5 years, we have a strong pipeline of exceptional advisory firms across the UK and have built an entrepreneurial business with a dynamic and collegiate culture which will make us the natural partner of choice for quality advisory firms. We are already speaking with other adviser firms and expect to make further acquisitions soon.”
To discuss the market for potential acquisitions, speak with our Senior Broker Gwill Evans and click here.