Destini Financial Services Group has bought the client base and trail commission of David Aaron Partnership, which went into receivership under KPMG late last year.
The value of the deal has not been released by either party.
Unlike other firms acquired by Destini in the past year, David Aaron Partnership has not bought a going concern, but as just some of the assets being disposed of by administrators.
This means there will be little immediate contribution to Destini’s top line growth, but the breadth and depth of DAP’s client base should over time provide good opportunities for Destini’s other acquired businesses.
Also included in the deal is DAP’s Invest It magazine, which has been disrupted by recent events, but which should resume in some form of publication.IFAonline
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