Appointed representative of the Tenet network Aspire Financial Management has taken over the client bank of Furness Financial Advisers, the financial advice business of Furness Building Society.
The acquisition will see Aspire take on 75 clients as well as a legacy book of about 1,500 clients, who will be integrated into Aspire and managed using a combination of face-to-face and remote independent advice. The firms would not divulge any financial details around the deal but said the purchase price was based upon a multiplier of recurring income in line with industry norms. Aspire is wholly owned by Tenet while Furness has been an appointed representative of the network for 16 years and remains a subsidiary of Furness Building Society, which will focus on its core business of ...
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