National IFA Moneygate has acquired Buckinghamshire-based Beacon Asset Management as its expansion drive gathers pace.
The move will see Moneygate take over Beacon's IFA operation which includes 35,000 high-net worth clients, £90m funds under management and 10 advisers. There will be no job losses. This acquisition signals a shift in strategy as Moneygate eyes up larger, established firms. Beacon Asset Management's parent company the Beacon Group will now focus on its core mortgage lending business. Moneygate chief executive Lee Hartley (pictured) says the incorporation of the IFA will be a seamless transition. "There are no plans to change the way Beacon Asset Management operates but we do inte...
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