Lifeboat financial group hope to achieve a turn over of £10 million by the end of next year with the...
Lifeboat financial group hope to achieve a turn over of £10 million by the end of next year with the help of their newly acquired Birmingham based IFA firm Pinnacle Financial Solutions Ltd.
When Lifeboat companies first formed in October 2000, Start Independent Limited and Simply Assured. were looking at turnovers of £3 million, but the company has continued to become stronger and will have new production targets of £1 million a month by the end of 2002.
Lifeboat financial group companies have grown considerably, Start Independent Ltd now has 60 IFAs, Simply Assured Ltd. has grown to 900 agencies and Simply Assured Direct has 35 businesses.
The vast growing company meant Lifeboat group had to open a second office in Telford this month to accommodate the increase in staff since the recruitment of a Group Financial Controller, a Group Operations Director and other support roles.
The group wants to expand its sales force further and are currently in the process of acquiring Buick Mitchell Avery Ltd., a group of financial advisors based in Swindon.
The Birmingham based financial management company Ernest R. Shaw Ltd. has also announced it's acquisition of a Wolverhampton firm Kendall White Millar.
By merging the company's employee benefit and personal financial planning division they claim to have made themselves one of the largest independent financial advisory services in the Midlands.
Ernst R. Shaw, which was formed in 1987, has made its new headquarters in the old offices of Kendall White Millar, they now have a staff of 26 including 11 registered financial consultants, with further offices in Cheltenham the company presently has turnovers of around £2 million.
Grahame White, the founder of Kendal White Miller 28 years ago, will continue in his role as a full-time Client Director.
David Philips, Managing Director of Ernest R Shaw (Financial Management) said: "We felt the time was right to take the company to the next level. This acquisition achieves that and opens up many new opportunities.
"Our business was already growing but by bringing these two businesses together we are creating a very powerful force in the employee benefit and personal financial planning sector."
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