The FSA has granted approval for the merger of AWD plc with Chase de Vere Financial Solutions plc.
Operating from offices in 27 locations across the UK, the merged organisation will be providing truly independent financial advice for private and corporate clients in the UK.
It is intended for the full organisation integration to be completed by the end of 2005.
The combined business will be led by AWD Chief Executive, Douglas Gardner.
The Chase de Vere and Moneyextra brands will be retained and combined with the AWD name.
Chase de Vere has 28,000 private clients, 1,000 corporate clients and 160 advisers. The Company specialises in the provision of financial advice and services to private and corporate clients. Client assets under management totalled approximately £3.5 bnin 2004.
Gardner says: “Combining these great brands strengthens our drive to be the market leader in providing independent financial advice – it creates a powerful leader in the UK market committed to true independence”.