Protection and mortgage advice firm Embrace Financial Services has been sold to broker Pivotal Growth for a consideration of up to £10m.
Embrace provides protection advice to estate agency introduced customers, including LSL's franchised and owned estate agency branches. The protection advice offered includes life and critical illness cover, income protection and family income benefit. The firm was owned by LSL and initial proceeds of the sale will be used to support LSL's growth plans and to further "simplify" the group. By offloading the business, LSL will instead focus on its financial services activity on business-to-business services through the PRIMIS Mortgage Network. Additionally, the acquisition will "signi...
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