Oval has bought Leicester financial adviser firm Ward Mitchell Partnership.
This is Oval’s 24th acquisition since November 2003 and the second stand-alone IFA business it has acquired.
Ward Mitchell employs a total of 16 staff and the company has an annual turnover of £2.5m.
Oval chief executive Phillip Hodson says he is impressed with Ward Mitchell’s strong client base and service philosophy. He says: “We are strongly committed to Oval following an independent, composite model providing both insurance and financial services.
“Our acquisition of Ward Mitchell demonstrates our continued plan to develop both our broking and financial services businesses.
Ward Mitchell directors Mike Ward, Steve Mitchell and Jonathan Howard will remain with the business.
Ward says: “We are very excited about this development. For some time now, we have been aware of the need to expand the resources available to Ward Mitchell in order to meet the ever increasing challenge of operating in today’s financial markets.
“Oval’s expertise in general insurance broking and employee benefits neatly complements our own presence in the private client/ company market.”