Independent retail stockbroker, Shares plc, which operates The Share Centre, has bought the 15,000-strong client book of failed discretionary fund manager Beaufort Securities.
Shares plc said it had reached an agreement with the special administrator of Beaufort Securities to acquire its customer accounts. It is expected the transfer of accounts to The Share Centre would begin in September. Chief executive Richard Stone said: "We are especially pleased to welcome, in a few weeks' time, customers of Beaufort Securities, who have endured a very difficult period since the collapse of the business. "It is pleasing to have been selected to provide these customers with a secure home and service for their investments and we look forward to building our relation...
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