Radiant Financial makes triple acquisition

Radiant Financial Group has made a triple acquisition of firms based in Oldham, Barnstaple, and Henley-on-Thames.

The deals add £325m to Radiant’s assets under advice, bringing its total to £1.3bn.

Landmark Financial Planning, the Oldham-based firm, contributes £98m in AUA to Radiant’s books, as well as three advisers and three support staff.

Eric Mowinski, director of Landmark Financial Planning, said: “We chose Radiant because we wanted to ensure continuity for our clients and staff.

“Our advisers wanted to stay independent without having to force clients into predetermined investment propositions. The process of agreeing a deal and implementation was handled very professionally.”

Irvine Financial Services, the Barnstaple adviser, has £136m in assets under advice and eight members of staff which will be transferred to Radiant. Founder Glen Irvine commented on the acquisition: “After speaking to a number of potential buyers we made the decision to select Radiant because they excelled in providing a package that was both client and staff centric.

“The senior management have been excellent both pre and post-sale and extremely professional and caring. We feel welcomed by the entire group and I’m happy we made the best possible decision for Irvine Financial Services.”

The final firm, Andrew Gibbs IFA, adds £91m in assets under advice. Andrew Gibbs commented on the succession of the firm: “Radiant gave me the confidence that it will provide all of my team with the opportunity to continue to develop their careers.”

Despite the rapid growth of Radiant, Simon Cogman-Hellier, chief executive, emphasised the importance of maintaining its companies values: “We are very mindful of ensuring we do not become a commoditised business where a client simply becomes a number within a large organisation.

“Radiant will always be client-centric and have truly impartial advice at its core.”

To stay up to date with recent M&A activity in the financial advice market, take a look at our dedicated news page here.

Louise Jeffreys is managing director of Gunner & Co, an IFA broker with values based on strong relationships built on trust, credibility and value.

Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.