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Conforto raises £1m for business growth

Conforto Financial Management has raised almost £1m from existing and new investors to finance organic growth at the firm and possible new acquisitions.

Conforto, which specialises in advising elite professional sports people, has seen assets under management grow from £50m to £125m in less than a year. It aims to grow the company to £500m in assets under management.

Managing director Andy Sutton says the success of the fund-raising is a vote of confidence in its business model from existing shareholders and new investors.

He says: “It is also an indication that there is genuine interest in IFA businesses from investors despite the relentless diet of gloomy news about the industry.

“Thanks to a variety of factors, including current market conditions and regulatory changes, many advisory firms are making hard decisions about their future. We see the ongoing consolidation in the industry as an opportunity to grow our business and to promote our focus on a client-led approach offering differentiated investment opportunities.”


Recovery position

Rathbones boasts one of the oldest brands in financial services, originally founded in 1742 as a Liverpool timber and shipping merchant.


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