Millfield invites £16m to finance IFA acquisitions

Professional Adviser
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Millfield Group unveiled a huge restructuring of the intermediary firm this morning along with massi...

Millfield Group unveiled a huge restructuring of the intermediary firm this morning along with massive investment from financial services firms in a bid to boost its business position post CP121. A new share offering worth £16m was announced to finance the establishment of a new division and the stepped acquisition of 20 IFA firms. However, the bulk of that share offering - worth £11.2m - has already been placed with Aegon, Friends Provident, Norwich Union, Scottish Widows and Skandia, to help acquire small advisory companies. Paul Tebbit, ceo of the Millfield Group, says the pro...

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