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IFA consolidator targets £1bn in assets by 2017

Adviser consolidator firm Attivo has set out plans to buy at least six firms this year.

The firm currently has around £400m in client assets and runs £100m in its commercial property arm. It aims to reach £1bn in assets across the business by 2017.

Previously known as Fountain Independent, the financial advice arm was rebranded Attivo Financial Planning in December 2012.

Attivo launched its own discretionary fund management arm, Attivo Investment Management, last May.

It also operates its own Sipp alongside the commercial property investment arm.

Chief executive Stephen Harper says: “Last year saw the evolution of the group’s future development plans beginning to reap rewards with the launch of several important new client-focused services which have significantly enhanced our overall business proposition.

“This year we have ambitious, but we believe realistic, plans to take our growth up a level and move rapidly towards our target to have £1bn funds under management by 2017.  Many of our advisers will reach full chartered status and many other paraplanners and head office staff are taking CII and PFS diplomas or similar qualifications.”

Cyber IFA director Graham Worrall says: “There is a risk that as firms consolidate the advice becomes less personal. I would compare it to a local pub being bought out by a Wetherspoons. The clients may just go somewhere else.” 

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