{"id":1990,"date":"2023-12-28T11:49:59","date_gmt":"2023-12-28T11:49:59","guid":{"rendered":"https:\/\/www.gunnerandco.com\/?post_type=insights&#038;p=1990"},"modified":"2024-01-04T13:54:20","modified_gmt":"2024-01-04T13:54:20","slug":"team-asset-management-acquires-hbfs","status":"publish","type":"insights","link":"https:\/\/www.gunnerandco.com\/insights\/team-asset-management-acquires-hbfs\/","title":{"rendered":"Team Asset Management acquires HBFS"},"content":{"rendered":"<p class=\"sc-eqUAAy bkScDI specialist__text sc-dChVcU dRGKiI\"><span class=\"bt\">TEAM plc (TEAM)<\/span>, the wealth, asset management and complementary financial services group, is pleased to announce that it has exchanged contracts to acquire the entire issued share capital of Homebuyer Financial Services Limited (&#8220;HBFS&#8221;), a Jersey based financial planning business, for total consideration of \u00a32.4 million.<\/p>\n<p class=\"bv\"><span class=\"az\">Founded in 1988, HBFS is an established Jersey based financial planning business advising local clients on investments, pensions and protection policies. <\/span><span class=\"az\">HBFS has assets under advice of approximately \u00a3135 million with over 1,000 clients serviced by 10 full time employees. <\/span><\/p>\n<p class=\"bv\"><span class=\"az\">HBFS will be integrated into the TEAM platform under the Concentric brand led by its MD, Gordon Bennie.<\/span><\/p>\n<p class=\"bw\">The firm said &#8220;the acquisition of HBFS is in line with TEAM&#8217;s strategy to build its representation within the Channel Islands and is the third Jersey based financial planning business to be acquired by the Group, following the acquisitions of Concentric Group and Omega Financial Services in 2022.&#8221;<\/p>\n<p class=\"bw\"><span class=\"az\">The Company expects that the acquisition will generate significant economies of scale and that the existing HBFS business will benefit from being part of the broader TEAM platform.<\/span><\/p>\n<p class=\"bs\"><span class=\"cd\">Mark Clubb, Chairman of TEAM, commented:<\/span>\u00a0<span class=\"ce\">&#8220;I am delighted to welcome the HBFS team into the Group. We know them well and are confident that they will be a strong addition. This will be our fifth acquisition in Jersey since incorporation and we will focus on eliminating duplicate costs and supporting the team as they build their client base. There is no doubt that we are creating a high calibre service for clients in Jersey.&#8221;<\/span><\/p>\n<p class=\"bs\"><span class=\"az\">Michael Barney, Managing Director of HBFS, said:<\/span>\u00a0<span class=\"az\">&#8220;I believe that in TEAM we have a found a good home for HBFS. As a London quoted plc, and an established player in our market, it will provide our team an opportunity to grow and develop and our clients with a range of financial services that will enhance the service they receive. I look forward to seeing HBFS flourish under the TEAM banner.&#8221;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><em>If you are looking to sell your business, find out more about the selling process and how\u00a0<\/em><a href=\"https:\/\/www.gunnerandco.com\/meet-the-team\/\" data-cmp-ab=\"2\"><em>Gunner &amp; Co.<\/em><\/a><em>\u00a0can help you. Book a meeting with our MD Louise\u00a0<\/em><a href=\"https:\/\/gunnerandco-43d446.pipedrive.com\/scheduler\/1R10aYH6\/initial-meeting-with-louise-jeffreys\" data-cmp-ab=\"2\"><em>here<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial services group Team has bought Jersey-based Homebuyer Financial Services for \u00a32.4mn, subject to regulatory approval.<\/p>\n","protected":false},"featured_media":1376,"template":"","insight-category":[3],"insight-tag":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Team Asset Management acquires HBFS - Gunner &amp; Co<\/title>\n<meta name=\"description\" content=\"Financial services group Team Asset Management has bought Jersey-based Homebuyer Financial Services for \u00a32.4mn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gunnerandco.com\/insights\/team-asset-management-acquires-hbfs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Team Asset Management acquires HBFS\" \/>\n<meta property=\"og:description\" content=\"Financial services group Team Asset Management has bought Jersey-based Homebuyer Financial Services for \u00a32.4mn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gunnerandco.com\/insights\/team-asset-management-acquires-hbfs\/\" \/>\n<meta property=\"og:site_name\" content=\"Gunner &amp; 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