Arch Financial Products has taken a 48% stake in Financial Partners Group (FP Group), one of the lar...
Arch Financial Products has taken a 48% stake in Financial Partners Group (FP Group), one of the largest offshore IFA groups.
The move is designed to drive Arch's expansion in the Middle East and Far East, where FP Group offers investment, wealth management and advisory services for private clients, corporates and expatriates.
The new shareholding structure and investment gives FP Group a strong capital base with which to grow, said Arch.
The group's strategy involves franchising as well as mergers and acquisition of IFA firms in Australia, Hong Kong, India, Indonesia, Japan, Malaysia and the United Arab Emirates, where it is already established and licensed, it added.
In turn, the investment will boost Arch's presence in Asia and the Middle East, providing a platform for its alternative investments product range. The company will also develop customised products for Asian and Middle East investors in conjunction with FP Group's banking arm, FP Bank, it said.
Robin Farrell (pictured), CEO of Arch, said FP Group is well positioned to benefit from emerging trends in the asset management and wealth management sectors.
Sean Kelleher, chairman of FP Group, said: "Banks are targeting either the retail market or the high net worth market, which has left an untapped area of opportunity in three highly distinct niches including the growing expatriate segment, upwardly mobile individuals and the growing breed of small and medium-sized enterprises (SMEs).
"We are actively looking at complementary IFA businesses for acquisition and franchising opportunities and would encourage business owners to contact us."
Arch Financial Products manages approximately $2bn of investments, while Financial Partners has over $1bn under advice.
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