ETFs & Funds
Home›ETFs & Funds›Fund Industry›Absolute Financial Group grows in England with four cl…
Absolute Financial Group grows in England with four client book deals
The UK IFA consolidator said the agreements lifted assets under advice to more than £2.4bn, adding £134m in AUA from the new transactions.
Absolute Financial Group, a UK-based independent financial adviser consolidator, has expanded its presence in South East England through four new transactions, including three purchases of client books from retiring advisers.
The client-book sellers are T&L Financial Services, trading as JM Financial Planning in Eastbourne; Paul Tune Financial Services in Battle; and Clear Sense Financial Planning in Chichester, with their clients moving to Absolute and being served by its existing planners in the region.
A fourth deal covers Horton Independent Financial Planning, based in Canterbury, which will continue operating alongside Absolute after the acquisition.
Absolute said the deals increased its assets under advice to more than £2.4bn, with the latest agreements contributing an additional £134m, and described its operating model as flexible for adviser owners looking to retire, remain after acquisition, or join a partnership programme with a future buyout schedule, according to International Accounting Bulletin.