David Aaron falls to Destini

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

AI adoption not a 'must' for advice industry but it can leverage services

AI adoption not a 'must' for advice industry but it can leverage services

‘You are not struggling for clients, so it is a great place to be.’

Isabel Baxter
clock 01 May 2024 • 1 min read
Long-term financial planning proving increasingly difficult

Long-term financial planning proving increasingly difficult

Cash ISAs were the preferred vehicle for those planning over the long-term

Sahar Nazir
clock 01 May 2024 • 1 min read
Financial Conduct Authority's regulation 'lacks coherent vision'

Financial Conduct Authority's regulation 'lacks coherent vision'

‘It does feel like the wind has been in our faces over the past few months’

Isabel Baxter
clock 01 May 2024 • 2 min read