Edgewater Associates buys rival Isle of Man IFA for £1.7m

The Manx Financial-owned firm will initially take over 4,000 clients and six members of staff, followed by the remaining 150 clients three months down the line. In total, the business generates an annual renewal income of about £0.4m. Both acquisitions have already received regulatory approval. Knox's and EWA's IFA retail businesses have been in direct competition with with each other and have similar client profiles. The client books will be consolidated under EWA's ownership following the transaction. The deal will increase EWA's combined assets under the management by about £...