IFA group Destini has made the fifteenth acquisition since its launch 13 months ago with the purchase of Swindon IFA the Radnor Group.
The deal, for a mixture of cash and shares, adds the nine-RI business to Destini's growing portfolio of IFA firms which includes Fiona Price & Partners and former Sesame IFA Applewood Associates.
Radnor specialises in administering pension schemes for companies with up to 1,200 members in their schemes. It gets around 35 per cent of its business through referrals from one of the country's leading relocation companies.
Destini's focus in the last 12 months has been on building the number of firms that form the group, selecting some businesses specialising in niche areas to expand the breadth of advice available to clients.
The group plans to con-tinue its aggressive growth strategy this year and is looking to establish itself as a leading national brand, increasing its focus on marketing and promotion. Chairman and chief executive Barry Parsons says the move boosts the group's total RIs to 91, with a collective turnover of £9.2m.
Radnor managing director Barry Thorpe says: “We considered joining a network but excluded the idea on the basis that too much control of how the business runs is taken away. We think there will be strength in numbers and Destini as a consolidator offers a decent proposition.”