Cheltenham-based Attivo, the national wealth management and investment group, is accelerating towards its target of £1bn FUM with the acquisition of a further three IFA businesses. Last January, Attivo announced its ambitious consolidation and acquisition strategy aiming to acquire six IFA firms this year and 12 firms in 2015 to reach its target of £1bn FUM by end of 2017.
The three acquired businesses are: Lord & Company (Financial Advisors) Ltd, based in Worthing; South West Investment Consultants, Totnes; and, an IFA firm in Burton-on-Trent. These add to Attivo Group an additional 560 active clients.
Stephen Harper, chief executive of Attivo Group said: “RDR has made it increasingly difficult for smaller IFAs to continue to service their clients and at the same time, remain profitable. We have seen an increasing number of smaller IFAs wanting to exit from the market but requiring the reassurance that their clients will be looked after by a premium brand. Attivo can offer full wealth management services, including Chartered Financial Planning, DFM, SIPP and SSAS arms supported by our client serving teams.
“In addition, we have the funds available to acquire smaller IFA firms that are presently being overlooked by the larger consolidators. It takes a huge amount of resources to complete the appropriate due diligence required to take on client banks, and quite simply, larger consolidators do not find it worth their while to look at IFAs with smaller funds under influence.
“We set out bold targets in January and we are confident that we will meet our objectives. The appointment of John Hayden in June, who joined Attivo Group as Distribution Director has accelerated our acquisitions and we are delighted that our growth continues.”
If you would like to arrange an informal and confidential discussion with Attivo to discuss possible acquisition of your business, please e-mail firstname.lastname@example.org.