Moneygate acquires two firms as expansion strategy takes off

Following an undisclosed capital injection from MGT Capital Investments, the national IFA has acquired North East-based IFA Derwent Financial Solutions and lead generaion business Expert Money. The acquisitions will add over £1m to company turnover and is the first phase of an expansion plan looking to grow its IFA numbers from 75 to 750 advisers over the next four years. Principals of both firms have joined Moneygate as part of the deal, with Stephen Banks from Derwent FS and Charles Burns from Expert Money taking up positions from the start of March. "Derwent is a highly respect...