Merchant House has acquired a number of assets from Clarkson Hill as it seeks to launch a new financial planning venture, but it has not agreed a bulk transfer of its advisers.
Merchant House Group says it aims to recruit 200 IFAs to form a new RDR-ready financial planning business and hopes to attract a number from Clarkson Hill. However, a bulk transfer of the national IFA's practitioners or its clients has not been agreed. IFA consolidator Moneygate has also expressed an interest in transferring individual advisers from Clarkson Hill after plans for a bulk transfer fell through. Merchant House Financial Services (MHFS), a subsidiary of Merchant, has acquired certain assets from Bridge Business Recovery LLP, the administrator to Clarkson Hill, to suppor...
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