European Wealth buys Surrey-based IFA firm

The IFA business has £31m of funds under influence and is a family-run firm based in Surrey. Last year, its turnover reached £434,230 and it recorded a pre-tax profit of £154,250. The business will be relocated and fully integrated into European Wealth's head office in London and both its principles - John and Michael Robinson - will be appointed associate directors of European Financial Planning, the wealth manager's financial planning subsidiary. Compass is being acquired for a maximum consideration of three times its recurring income and the share placing involved 749,303 shares so...