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Howard sets first-year target of up to 100 firms for M2

Former Maddison Monetary Management managing dir-ector Mark Howard is launching new IFA M2 Financial this week with the aim of recruiting between 50 and 100 firms to the group within the next year.

M2, which will offer a fee-based financial planning service, is targeting small and medium-sized firms with the aim of creating a national presence targeting the professional advice market.

The firm is believed to have extensive internal and external funding running into several millions. It will be based in Guildford, with further offices in the Midlands and South-east.

Howard says he is already “in the closing stages” of securing the acquisition of seven IFA firms.

He says that over the past 12 months, he and his team have been working on a much bigger project which will form part of a wider move into the UK market, with M2 Financial forming an integral part of this initiative.

Howard set up Maddison in 1997 before selling the firm to Lamensdorf in 2001 for an undisclosed fee.

M2 has already invested heavily in technology which it hopes will distance it from the “cottage industry” IFA.

Howard says: “We will be improving and expanding on the original Maddison business model – many of the core values will be the same. M2 will offer a national presence with a team of like-minded individuals, targeting the professional and private clients&#39 market.”

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