View more on these topics

Syndicate adds two more IFA acquisitions

Syndicate Asset Management has continued its acquisition of IFA firms by buying St Andrews Asset Management and Pagan Osborne Independent Financial Advisers.

The two firms make up the financial services division of Scottish law firm Pagan Osborne and will bring £200m of funds under management or advice to Syndicate’s subsidiary Ashcourt.

The group has made three other acquisitions since March 2007m including Insight Investment Management, now Syndicate Asset Management Limited; Independent financial Solutions Limited and Burfield and Partners Asset Management Limited.

Syndicate’s profits leapt by 84 per cent from £2.04m to £3.76m for the year ended March 31 and revenue rose by 41 per cent to £40.3m from £28.6m. Funds under management are up by 5.5 per cent from £5.4bn to £5.7bn.

Chairman David Pinckney says: “This significant improvement in the financial results for the group is continuing evidence that the strategy we are following is showing through to our financial performance despite the current turbulence in global stockmarkets.”

Recommended

HBOS sees loan share dive to 7%

HBOS’s share of net mortgage lending plummeted to 7 per cent for the first half of this year, with profits tumbling by 56 per cent from £2.139bn to £950m.

To be and not to be – Multi asset investing with conviction

At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    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