Moneygate fails to buy Clarkson but can transfer advisers

Following speculation the IFA consolidator was in the frame to acquire Clarkson Hill Group, CEO Lee Hartley says the deal fell through because it was unable to get bulk transfer approval. "I can confirm we did not acquire the business and assets of CHG despite being involved in the process for the past three months," he says in a statement. "Our offer could not succeed without bulk transfer approval. We hoped to be in a position to achieve this within a matter of days, but we didn't have all of the elements together when final offers were requested." But Hartley says Moneygate's at...