View more on these topics

Merchant Securities acquires GT Independent Financial Advisers

Merchant Securities has acquired wealth management firm GT Independent Financial Advisers Limited for an initial consideration of £2m, payable in cash and shares.

Merchant Securities paid £1m in cash, of which £750,000 was paid on completion. A further £250,000 will be paid on February 9, 2012, together with 4,347,826 of new Merchant Securities ordinary shares.

A further £1m may be paid if GT achieves performance related targets.

The acquisition more than doubles the Group’s assets under advisory and discretionary management, which have risen from £205m to £485m.

GT has a client base of 3,300 private clients and £280m of assets under influence.

Merchant Securities says it sees “strong cross-selling opportunities”, including the potential to offer its own wealth management products and services to GT’s client base.

For the year ended May 31, 2010, GT reported pre-tax profits of £280,000.

GT will change its name to Merchant Securities Wealth Management Limited “as soon as practicable”. Managing director Tim Wall will remain with the company.

Merchant Securities chief executive Patrick Claridge says: “I am delighted to announce the acquisition of GT Independent Financial Advisers. The deal more than doubles Merchant Securities’ assets under advisory and discretionary management to £485m and represents exciting progress in our ambition to grow our presence significantly in the wealth management sector.”


Guernsey sets up Qrops code

Guernsey Association of Pension Providers has launched a draft code of practice on qualified regis- tered overseas pension schemes. GAPP code of practice group chairman Roger Berry says the code will ensure that people using Qrops schemes from Guernsey know what is permissible under HMRC regulations. The code tells advisers about the service and standard […]

John Lawson

Early warning

Early access to pensions could lead to much higher charges

Ignis makes cuts on UK equities team

Ignis Asset Management has removed head of UK equities Neil Richardson as part of a restructure of its UK desk. Richardson and four analysts have been cut from the UK equity team as the firm attempts to improve the performance of its legacy life company funds. The UK team manages more than £10bn of funds. […]


A case of outlandish spinning from the FSA

Working in financial journalism I’m used to some outlandish spinning from well paid press relations staff often eager to mask the true story. But for the life of me I cannot remember anything as bad as the latest dodgy dossier of statistics contained in the FSA’s inaugural RDR newsletter to advisers. In a section called […]

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm