South-east IFA firms Jackson Batten and AFPS are merging to create Aurora Financial Group.
The combined group will have 110 staff, including 40 RIs, and a projected turnover of £6m by the end of the financial year.
Aurora will have offices in Canterbury, London and Sidcup. It will be headed by joint chief executives David Taplin and Robert Rackliffe, who will also take on the role of chairman on an alternating basis – and managing director Stephen Greenstreet.
The new group's main business areas include wealth management and benefit consulting, plus healthcare and professional referrals.
Rackliffe predicts the merger will place Aurora among the top 30 IFAs in the country in terms of turnover. It plans to expand further by building on Jackson Batten's record for successful joint ventures with professional practices.
Rackliffe says: “There was a perfect synergy between the two companies. Other than accounting, there are no real overlaps and both companies use the same back-office software. We have no plans for job losses due to the merger at the moment but like any company we expect people to do their job well. We intend to run a tight ship.”