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Shipman buys Devon HNW specialist firm

IFA firm Shipman Financial Planning has acquired CMC Financial Services.

CMC specialises in advising high-net-worth clients in East Devon, around its Budleigh Salterton base, and has over £25m in funds under management.

The CMC deal follows Shipman’s acquisition of C&M Financial Services in 2009.

The sale was prompted by the retirement of John Pratt, who founded the business nearly 30 years ago with his wife Sue. CMC will now trade as Shipman Financial Planning and Sue Pratt will remain as an adviser.

Shipman Financial Planning director Tom Glanville says: “We have built a reputation for quality of service client care which has great appeal to other well established businesses where the owners are looking to sell or retire.

“They look for reassurance that the financial affairs of their clients, many of whom they will have advised for decades, will be in safe and capable hands.”

AWD Chase de Vere head of communications Patrick Connolly says: “We will see more IFAs retiring in the run-up to RDR, so there will be more opportunities to make acquisitions for those who want to expand.”


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