New IFA Towergate Financial has purchased Nottingham-based adviser M2 Financial as part of its IFA acquisition drive.
The deal is Towergate’s first since it announced it had raised £108m for its IFA consolidation plans and its sixth of the year to date.
Towergate says Mark Howard will remain as managing director under the terms of the deal adding the HNW-focused business will become its East Midlands regional office.
Patrick Snowball, chairman of Towergate Financial, says: “We are delighted to welcome Mark Howard and the team of M2 to Towergate Financial.
“Our strategy is to build a well capitalised regional advisory business operating under the strong Towergate brand.
“M2 is a very successful business with high quality clients and advisers. This acquisition is a vital part of our expansion plans in the Midlands and Mark will be working with us on further acquisitions in the region.
“We continue to look for opportunities to work with high quality businesses across the UK.”
Howard, managing director of M2 Financial, adds: “This is a very exciting new phase in our development.
“We have built our business on our commitment to offering a competitive and innovative proposition to clients and are confident that Towergate Financial is the ideal partner to support us with this next phase of development.”
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