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Biggest Irish loan broker is building in UK with IFA buys

Ireland&#39s biggest mortgage broker IFG is quietly emerging as a major player in the UK market, buying up small IFAs and adding them to its national UK IFA arm – IFG Life & Pensions.

Its most recent acquisition is London-based IFA Saunderson House for £7m. The deal saw Saun-derson House chairman David Saunderson bro-ught in as chief executive of IFG Life & Pensions, with the brief of growing the organisation in the UK through a fee-based structure.

IFG now has over 80 registered individuals and more than a dozen offices nationwide, as well as the Isa Shop, pension drawdown specialist Berkeley Jacobs and Manchester-based consulting actuaries Santhouse Whittington Financial Services.

It aims to grow the business further by recruiting graduate trainees and says it will look to develop an identity for financial advice along the lines of solicitors&#39 or accountants&#39 practices through charging hourly fees.

IFG Group chief executive Richard Hayes says: “We are looking to grow the business in the UK through a fee-based proposition giving service to clients.

“As a group, we have grown by 30 per cent over the last nine years. The appointment of David Saunderson will bring a strong organic growth element to the business.”

Informed Choice managing director Nick Bam-ford says: “They obviously have a great deal of confidence in the IFA sector. This trend of consolidation is a clear indication of the way that companies with financial muscle want to get into the IFA marketplace.”

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