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IFAs merge in move to boost RIs

Norwich IFA Crossley Mackenzie is merging with City of London-based Helm Godfrey Partners to form a 28 RI group.

The merger is part of Helm Godfrey&#39s plans to boost its RI count to 50 by the end of 2004. It also plans to increase group turnover from around £3.5m to £7m over the same period.

IFA Helm Godfrey was formed from an amalgamation of nine IFA firms in 1999 and has advisers in Bournemouth, Brighton, Chester and Richmond. Chairman is Tax Briefs editorial director Danby Bloch.

Five RI firm Crossley Mackenzie will continue to trade under its own name in East Anglia but will now be part of the Helm Godfrey group, with its three main partners offered up to a 15 per cent stake in the new parent.

Crossley Mackenzie man-aging partner Angus Mack-enzie says: “The whole reason behind the merger is that we can see the costs of running an IFA business going up and up. The share scheme we are being offered gives consultants a sense of ownership in the business and we are looking towards distributing this further to all staff.”

Helm Godfrey managing director Bruce Wilson says: “We are not a huge firm but we are looking to be bigger, growing to 50 RIs. We already have a team of highly skilled consultants and want to build on this and expand.”


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