Fund firm iimia is buying fee-based IFA Compton House in a move which the group says will boost its funds under advice and management to £200m.
Compton, which will retain its name, will operate as part of iimia's financial planning division alongside Eveleigh & Huckle, the Bournemouth IFA which merged with the fund company last year. Eight Compton staff will join iimia in the move, including two directors, a senior adviser and chairman Michael Orton-Jones, who will take on a senior business development role.
Northampton Compton was established by solicitors Shoosmiths in 2000 to provide clients with advice and guidance, particularly in areas such as holistic financial planning, investments, employee benefits and protection. Its services have since been rolled out to other legal and accountancy firms in the area.
Iimia, which has limited reach beyond the South and South-west, says Compton's location will enable it to branch out in the Midlands.
Head of financial planning Bruce McIntosh says: “We are extremely excited to be taking on Compton House. This will enhance the iimia offering.”
Compton director Russell Cooper says: “We are delighted to become part of the iimia group, who share the same values and vision as us.”