Bateman Financial Management has become the latest adviser firm to defect from national IFA Kilminster to Falcon Group.
The Liskeard-based firm, headed by chairman Richard Bateman and director Ian Keiller, focuses on high-net-worth clients, small business owners and key employees of local companies.
Bateman was previously a board member at Kilminster and remains a shareholder. He has been a top of the table member of the Million Dollar Round Table for 25 years.
Kilminster managing director Barry Stote says he believes recent outflows from the group have come as advisers follow its former recruitment director Stephen Gazard and director Tim Collyer to Falcon.
Stote says: “We are seeing numbers go down but there is not a lot we can do about it. The market is very competitive and all we can do is carry on offering the service.”
Bateman says: “I have worked very closely with Steve Gazard in the past and my team and I are confident that Falcon represents the best home for the continued growth and development of our business.”