Helm Godfrey looks for buys

22 July 2010 8:00 am | By Natalie Holt

National IFA Helm Godfrey has built up a £2m war chest to fund several acquisitions over the next 12 months.

Managing director Bruce Wilson says with many IFAs coming to realise the implications of the retail distribution review on their business, now is the right time to consider potential buys.

Wilson says Helm Godfrey is looking at firms wanting to leave the market and those that can benefit from being part of a bigger company.

He says: “We are not just looking for people who are looking to exit but also businesses that feel they are lacking in certain aspects of what they do and that feel they would be better off in a larger organisation that can deliver that.”

The company is currently in discussions with one unnamed firm over a potential acquisition and was outbid on two deals earlier this year.

Wilson adds: “People are overpaying and we will not do that. I believe as it gets closer to 2012 there will be more problems and more fear and maybe prices will come down. We have worked really hard for that £2m in the bank, we do not want to waste it.”

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