Simon Hudson, the former chief executive of Tenet Group, has made a swift return to the advisory arena with the acquisition of a Leeds-based firm, and is aiming to purchase up to five more businesses.
He has set up a new company, Oakleaf Independent Financial Services Limited, to purchase Oakleaf Independent Financial Services, owned by Andrew Briggs.
Hudson, who stepped down from his position at Tenet in July, said he was "on the look-out for further acquisitions" and aimed to "build a group of four to six firms".
Both Oakleaf Independent Financial Services Ltd and Oakleaf Independent Financial Services are appointed representatives of TennetConnect and have a combined total of four authorised individuals.
Hudson added: "Oakleaf had been a customer for many years, so I know them well. I believe there are great opportunities within the IFA sector because of increased consumer demand for informed, objective advice and a greater awareness of the need to plan for the future.
"With the level of qualifications needed by IFAs continually increasing, there are lots of people considering merging or selling."
Hudson founded Tenet in 1992 but left earlier this year as he was unable to commit to being CEO for five years, a necessity for the business with the onset of the retail distribution review (RDR).
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