Aspire Financial Management Ltd (AFML), which is the wholly owned appointed representative of Tenet, has completed the acquisition of the client bank of Furness Financial Advisers Ltd (FFAL).
FFAL is the financial advice business of Furness Building Society.
FFAL remains a subsidiary of Furness Building Society and has been an appointed representative of TenetConnect for 16 years. Furness Building Society has decided to focus on their cores activities of savings, mortgages and insurance.
Managing Director Mike O’Brien said: “Aspire was successful in securing the business and we are delighted that we were able to complete the transaction. Because of our long-standing relationship with FFAL we are ideally placed to continue with the provision of the same quality of advice and customer service. This deal could provide a template for any future acquisitions.”
Furness Building Society Marketing and Sales Director Sue Heron said: “After an extensive review, which put our customers’ needs at the forefront of our minds, we took the decision to transfer our financial advice operations to Aspire Financial Management Ltd. Tenet Group is a long established and reputable firm that is well known to the Society and, equally importantly, already has a good knowledge of FFAL’s activities. Therefore it made perfect sense for us to take this route.”