A financial services business formed less than a year ago has added two new firms to its portfolio as it pushes ahead with plans to have £1 billion of assets under advice within the next 12 months.
Truinvest has acquired Group Rapport and Bromwich Financial Planning as part of a five-year growth strategy targeting annual revenues of £50 million.
Detailed discussions are already underway over further transactions which could be announced this year.
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The business, based in Market Harborough, south Leicestershire, was set up by Mark Smith and Micky Johal, former colleagues at Leicester wealth management advisors Mattioli Woods.
Mark spent 19 years as chief operating officer with Mattioli Woods and Micky was its director of mergers and acquisitions for five years.
They aim to be a “market disrupter” for financial planning in the 海角视频.
The firm has the backing of Stonewood Wealth Management, which has injected an undisclosed amount of funding.
Weybridge-based Group Rapport and Harborough-based Bromwich Financial Planning are Truinvest’s first acquisitions, and mean the fledgling company is already handling assets worth £350 million.
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Group Rapport, which advises corporate and private clients, was established 13 years ago and has four advisors.
Bromwich Financial Planning was formed in 1991.
Truinvest chief executive Mark Smith said: “We are absolutely delighted to have added two such reputable and well-regarded companies to our ranks.
“We see it as a hugely significant development and a real statement of Truinvest’s intent.
“Micky and I formed Truinvest to create a modern, forward-thinking financial services business focused on giving highly-personalised advice and supported by the best of technology.
“We believe this will enable the group to deliver great client services while freeing-up our advisors to spend more time with clients on the things that matter most in all aspects of their financial planning”.
Chief finance officer Micky Johal said: “Having the support of Stonewood Wealth Management means we have investors who understand our industry and are able to take a long-term view on our business.
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“We are investing in cutting-edge technology to make the way we operate simpler for our clients, advisors and staff, particularly as we feel the current Covid-19 pandemic has brought into focus the need for change in the way we all interact with one another.
“The use of modern technology and platforms is at the heart of the Truinvest strategy.”
Jeremy Martell, managing director of Group Rapport, said: “We have received approaches from potential suitors previously, but very few shared our vision for the future.
“In Mark, Micky and Stonewood Wealth, we believe we have found a partner who will embed our core values within a new and growing business to drive our company and client offering in the direction we all want”.
Bromwich Financial Planning managing directors Nigel Bromwich said: “I am proud we have linked with Truinvest and will be able to continue ensuring clients are central to the business and always come first, while employing the latest technology to provide a better service.
“I am delighted to pass on the significant progress made over many years to like-minded people with the same objectives.”