Montpelier Group has bought London IFA Principia Consulting in a move that will increase its RI numbers by a third.
Principia has 11 RIs which will bring Montpelier’s total to 37. Principia will be renamed Montpelier (London) and it is expected that it will boost the group’s UK turnover from £18m to over £20m.
Principia’s office is based near Trafalgar Square and will be headed by directors Pieter Von Rooyen and Edward Lorman. It will sit alongside Montpelier’s City business headed by Stuart Richmond.
Principia was an appointed representative of Berkeley Independent Advisers before moving to Tenet’s Interdependence network following the sale of the business in March.
Montpelier Group (Europe) chief executive David Yelloly says: “Other businesses were interested in acquiring them but Principia felt that the opportunities available at Montpelier were too great to ignore.”