The Inter-Alliance Group is buying Thailand-based IFA Sterling Asso ciates and its subsidiary, Singapore-registered Sterling Data.
The acquisition costs pay able over the next three years are capped at £3m. Sterling Associates will operate as part of Inter-Alliance International.
Ster ling chief executive Don Smith will continue to head up the new South-east Asian operations which will continue to trade as Sterling Asso ciates but this will be reviewed at a later date.
Operating from a head office in Bangkok and employing 20 advisers, Sterling Associates provides independent financial services to English-speaking expatriates in Thailand, Malaysia and surrounding areas. Inter-Alliance is aiming to increase current revenue from the business from £1m to £3m within the next three years.
The company says new legislation over the licensing of IFAs to market, advise and transact locally by the Singapore authorities is currently being passed.
But once this has been finalised it anticipates this will lead to more opportunities in Singa pore.
This is the third international acquisition made by the Inter-Alliance Group this year. Another is in the pipeline in Japan and further targets for acquisition are being considered in the Middle East.
Inter-Alliance Group chief executive Stuart McGreevy says: “We intend to position the Inter-Alliance Group as the dominant international IFA thro ugh a combination of organic growth and targeted acquisitions.”