View more on these topics

Nexus IFA acquires Pensionline client bank

FCA-FSA-Airplane-700x450.jpg

Nexus IFA has acquired the client bank of Surrey-based IFA firm Pensionline.

Pensionline has assets of around £21m across 250 active clients with founder Jon Minchin continuing to remain in contact with clients as part of the handover process.

The acquisition, its nineteenth in the last three years, takes Nexus’ assets under advice to £220m and increases its client bank to 10,000.  

Nexus IFA has five advisers and is in discussions with a further seven firms about buying their client banks.

Director Phil Frapple says: “We think we offer IFAs retiring or winding down their involvement in advising a different solution than simply selling up or closing down.”

Nexus is an AR of The Whitechurch Network which was acquired by IN Partnership parent the On-Line Partnership Group in May last year.

Access Wealth Management partner Jim Clancy says: “There will continue to be consolidation in the industry and you hope acquiring firms are using the right model rather than just looking at the amount of assets they can bring in.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. I’d love to know how they are going to service all these clients.

    Based on those figures the average pot is £22,000 and each adviser would have to service 2,000 clients which equates to 5 client reviews a day working 365 days a year.

    Doesn’t add to me.

  2. The comment from Anonymous shows how simplifying things and making assumptions can result in a completely false conclusion!

    Of course the majority of our investment clients don’t have an ‘average’ investment of just £22,000, nor are all of our clients purely investors. As IFA’s we have a wide range of clients of all ages, each with individual requirements and goals, and not all requiring a full face to face review every year. By utilising technology and communicating regularly with clients, and supported by our highly skilled team of paraplanners and administrators, Nexus IFA advisers can continue to provide excellent ongoing service to all our clients. That’s one of the reasons IFAs have been joining us over the last couple of years, and why more are coming on board.

Leave a comment

Close

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

Email: customerservices@moneymarketing.com