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BBB to buy firms in multi-ties move

Berkeley Berry Birch is launching an acquisition vehicle focused on buying IFA firms wanting to multi-tie after depolarisation.

Berry Birch & Noble Advisers has taken on a team to recruit regional IFA practices with annual turnovers of £1m-£5m with a view to becoming a national multi-channel brand. It comes as BBB is being launched with a new corporate logo covering the group.

BBB, formed in January when Berkeley Independent Advisers reversed into Berry Birch and Noble, is looking to capitalise on firms wanting to access value in their firms by multi-tying. It believes the multi-tie model will give it the muscle to work with providers to create more competitive products than those products generally available.

Existing IFAs will be offered the opportunity to choose whether they want to remain independent or multi-tie.

Chief executive Cliff Lockyer says: “We have been laying people and resource foundations to capture the shake-up in UK financial services. The IFA sector is about to enter a period of rapid change. BBNA is being launched to acquire IFAs to multi-tie. We will use that distribution influence to design products.”

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