Harwood WM buys IFA Plan65's assets for up to £1.56m

Following completion of the deal, P65's owners and founders, Keith Turner and Doug Rae, plan to retire while the acquired assets will be integrated into Harwood's subsidiary, Compass Wealth Management Consultants. In a statement, the UK-based financial planning and discretionary wealth management business said the acquisition's purchase price was £1.56m - "dependant upon performance criteria of the assets acquired". The initial cash consideration of £810,068 will be funded from Harwood's existing cash resources, with deferred consideration of £747,296 - payable in two instalments - to be...