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Tenet group continues expansion with purchase of 100-RI firm

IFA network group Tenet has bought Capital Planning UK, a regional IFA with

100 RIs based in the South-east.

The move is the latest in the group&#39s strategy to invest in its members and

clients of its businesses, including networks M&E and Interdependence,

mortgage network IMA and service provider IFA Professional.

Capital Planning UK has six offices throughout London and the South-east

and is opening two more in Wiltshire and Hertfordshire by the end of

February, boosting IFA numbers by around 30.

This is the first time Tenet has purchased an IFA firm outright although

the group has previously invested in financial services businesses, most

recently IFA Ayrshire Financial Planning.

In the future, the group plans to use Capital Planning UK as a vehicle for

carrying out internal practice buyouts for retiring members of the Tenet

networks and IFA Professional.

Tenet group commercial director Peter Lane says: “The acquisition is in

line with our plan to grow our business by increasing the number of

advisers associated with the Tenet group to 4,500 in the next two years. As

well as expanding our business, it will allow us to better understand the

pressures our members are working under.”

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