Syndaxi Chartered Financial Planners and Caroline Banks & Associates have launched an overarching brand which will combine the services of their advice businesses.
Syndaxi managing director Robert Reid says the new brand, Particular, will pool the technical resources of his firm with the marketing expertise of CB&A. The two companies have a total of 12 employees.
Syndaxi and CB&A will continue to exist as separate entities, although Reid says the firms could pursue a complete merger in the future.
He says: “We want to grow both businesses. CB&A has a very good relationship team and we have a very good technical team. This allows us to use our combined strengths to grow quicker than we would do if we did not work together, without either of us having to take on huge numbers of people.
“We have no firm plans to merge at this stage but if that was to provide greater advantages than the proposed approach we would obviously consider it.”
CB&A managing director Caroline Banks says: “Robert and I have had many discussions over the years about practice development and how to innovate for the benefit of our clients and the industry as a whole.
“This has been a great success for both firms and with the implementation of the RDR in January 2013, we have decided to formalise this arrangement.”
Radcliffe & Newlands chartered financial planner Mel Kenny says: “We do not hear of too many mergers in the IFA world. We might hear of more given the RDR has prompted firms to identify their own strengths and weaknesses.”