High net worth advisory firm Conforto Financial Management has acquired fellow Hertfordshire-based IFA The McCroddan Partnership (TMP).
Conforto says the acquisition is the latest step in a series of takeovers planned to boost its exclusively fee-based business.
Over the year to March 2008, Conforto recorded in excess of £1.1m in fee income and reached over £50m in assets under management.
The addition of TMP is the second IFA acquisition for Conforto, following the transition and integration of advisory firm AIA from its previous commission-based model.
Founded in 2005, Conforto initially focused on professional sports people, with clients such as golfer Ian Poulter, former Arsenal great Lee Dixon and ex Rugby star Jonathan Davies.
“We are very excited by this deal and are delighted to be working with Michael McCroddan and his team who share our views on the way ahead for the IFA market,” Conforto managing director Andy Sutton says.
“Our shared ambition is to build a refreshingly different fee-based advice organisation focusing on a client-led approach offering differentiated investment opportunities.”IFAonline
Open Banking and budgeting tools
Senior Managers & Certification Regime
DWP white paper - reaction
Fourth anniversary of pension freedom