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Almary Green eyes merger with Norwich IFA

Meeting-Business-Finance-Boardroom-700.jpgAlmary Green, the advice firm led by industry veteran Carl Lamb, is in sale talks with Smith and Pinching Financial Services, Money Marketing understands.

One source tells Money Marketing Almary Green staff have visited the Smith and Pinching offices, and that there have been discussions around a merged firm being floated on AIM.

The Norwich-based firms confirmed they have been exploring ways they can work together more closely in the future, but have not commented further on sale discussions.

A joint statement issued by Lamb and Smith and Pinching managing director David Hughff says: “We can confirm that our two firms have worked closely on a number of projects for over three years and we continue to explore how further collaboration can benefit the two firms in the future.

“A further statement will be issued if and when we have anything new to report.”

Almary Green became well known in September 2016 after Standard Life-owned 1825 ended discussions with the firm over a proposed acquisition. Several advisers left the firm since thn citing concerns about the firm’s potential move from independent to restricted status by accepting the 1825 deal.

Almary Green has just over 40 staff, including around 12 advisers and nine paraplanners. It set up a new holding company in August, according to its Companies House record.

Smith and Pinching was founded in 1973 and has around 70 staff.

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  1. Nice face, be a shame if someone…put egg on it.

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