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Destini acquires three more IFAs

Destini has bought three more businesses, adding £1.5m to its turnover and a further 15 advisers to the group.

The new acquisitions are Bournemouth-based Swift IFA, Adams Tingle Financial Services of Kettering in Northamptonshire and Vivienne Shepherd & Co from near Newcastle.

Adams Tingle managing director Gary Keyes says he wanted his firm to be bought to fulfil the human and capital costs of growing a successful business and allow the company to concentrate on advising clients.

Swift IFA managing director Tina Blackmore says the support Destini will provide on IT, compliance, research and PI means she can now go back to seeing more clients, which is what she enjoys most.

Vivienne Shepherd of Vivienne Shepherd & Co says her relationship with Destini allows her to bring her ideas to the organisation while preventing her firm from sinking under the burdens of compliance, supervision, account keeping, training and staff management.

Destini, which has bought 22 businesses in the last two years, has further acquisitions planned and expects to increase its turnover to £30m from £27m by January 2005.

Group managing director David Collett says: “We are very pleased to welcome Tina, Vivienne, Gary and their teams to the group. Each business has an enviable local reputation and bags of experience.

“Apart from the additional revenue they bring, the expertise in their specialist areas adds to the significant pool of talent and management experience already in the group. The acquisitions also increase our geographical spread. We now have a Destini company in most counties in the UK.”

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