Monetary Planning-focused consolidator Radiant Monetary Group has continued its current enlargement spree with a deal to spice up its presence within the North by buying Doncaster-based Ethos Monetary Options.
Personal equity-funded Radiant has acquired the belongings and goodwill of Ethos Monetary Options, which has £300m in AUA, for an undisclosed sum.
Radiant can even purchase Ethos’ 18 members of workers, together with 5 advisers.
The deal boosts two year-old Radiant’s workers numbers to 150 and belongings beneath recommendation to £1.6bn.
Final September IFA consolidator Radiant acquired three adviser corporations: Irvine Monetary Companies of Barnstaple, Landmark Monetary Planning of Oldham and Andrew Gibbs IFA of Henley-in-Arden for undisclosed sums. The offers added a mixed £325m in belongings beneath recommendation.
Radiant was established in 2020 and is led by CEO Simon Cogman-Hellier, who has greater than 40 years’ expertise in monetary companies, and former Outdated Mutual vice-chairman and Skandia CEO Peter Mann. Mr Cogman-Hellier was beforehand interim managing director of Bluefin Private Consulting, previously a part of AXA. He was additionally managing director of IFA Oval Monetary Companies, between 1993 and 2007, earlier than its sale to Gallagher.
The Ethos deal is Radiant’s first in Yorkshire and Radiant says it plans to “increase considerably” within the area utilizing Ethos as a hub. The corporate can be looking for additional acquisitions elsewhere within the UK.
Will Palmer, director of Ethos, stated: “It has been a protracted search to discover a firm to be a part of that we actually really feel comfy with. We’re assured that becoming a member of Radiant will provide our fabulous workers each safety and profession growth. Our shoppers, whom we worth extremely, will get continued stability and real Unbiased Monetary Recommendation and repair they’ll belief.”
“Myself and the workforce are excited to change into a part of the Radiant Group and sit up for a vibrant future.”
Mr Cogman-Hellier stated: “We’re extraordinarily joyful that the Ethos workforce has chosen to companion with us. They’re a particularly well-run enterprise, with a powerful workforce of extraordinarily properly certified workers.”
“We’re actually impressed with the enterprise and consider they’re a superb slot in serving to us present client-centric recommendation and distinctive supply as we glance to increase throughout the North of England.”
Radiant Monetary Group is registered in Jersey however based mostly in Market Harborough. It’s funded by non-public fairness agency Apiary Capital LLP.