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Regional IFA continues south-west acquisition trail

Marlene Outrim

UNIQ Family Wealth has acquired Brecon-based IFA Isaac Rees Wealth Management.

It is the second acquisition made by UNIQ, run by founder and former IFP president Marlene Outrim and was completed earlier this year.

UNIQ acquired Bristol-based firm Morgan Stone Independent in 2017 forming a trio of branches across Bristol, London and Cardiff.

Last year Outrim told Money Marketing she had a strategy to complement the organic growth of her firm with acquisitions. Outrim said she is in talks with a firm about a third acquisition but has not shared any details.

Isaac Rees, with £28m of assets under management, has one adviser, Linda Rees. Her husband, Samuel, provides the back office, administration and operations support.

Both will stay with the company for 12 months from when it was acquired in order to help with the transition.

Outrim says she purchased the shares in the company and did not make use of a broker but has got to a point where she knows a good amount about a good sale.

She says: “The year before last a sale to purchase an IFA fell through at the last minute. I learnt a lot from that. The next acquisition I learnt quite a more. So when it came to Isaac Rees I was obviously quite a lot more experienced.

Outrim adds: “I could see straight away this is a well-run, efficient business and that has made the acquisition and transfer process that much easier.”

She says the administration functions will move to UNIQ’s Cardiff base and the Isaac Rees office will be used for client meetings.

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