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Kingsbridge team of companies is splitting up

Kingsbridge, the Aim-listed IFA that specialises in advising professional sportspeople, is facing a demerger as one of the IFAs it acquired two years ago is splitting away from the firm.

Independent Financial Planning, the Harrogate, London and Sunderland-based firm Kingsbridge bought in 2001 is demer-ging from the group, taking 24 RIs with it.

Among IFAs, the firm, which specialises in high net worth and corporate clients, is best known for one of its directors, former Sofa chairman John Porteous.

While financial details of the deal were not disclosed, Kingsbridge, which counts among its clients the Professional Cricketers&#39 Association, is expected to continue as a firm which specialises in advising sports stars, including several Premiership footballers.

It is believed that Kings-bridge&#39s other recent acquisition, Glasgow-based John Murray & Company will remain within the group.

IFP will remain a public company but does not plan to list on an exchange in the immediate future.

Final talks are proceeding between the parties over the amicable demerger with FSA approval expected to be granted shortly.

Porteous says: “This is a very exciting opportunity to take our business forward. There is a great need for considered and bespoke financial planning that will always exist irrespective of market climates and we believe that our business model is suited to the challenges ahead.”

No one at Kingsbridge was available for comment.


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