The Money Portal has acquired 100 per cent of the Swaines compliance services consultancy.
The move will offer Swaines financial security while adding compliance support to TMP’s stable.
Chief executive Allen Swaines will continue to head up the business as it carries out its existing strategy. The Swaines brand is also expected to remain.
TMP chief executive Richard Craven says: “We are delighted to welcome Swaines into the TMP group of companies. They have a superb reputation with the regulator and have built tremendous client loyalty through the delivery of compliance consultancy of the highest standard. Allen Swaine will be working closely with the Board on all regulatory matters whilst continuing to run Swaines as an independent business.”
Swaines chief executive Allen Swaine says: “There is a strong emphasis on corporate governance within the TMP board and I am pleased to be working with them at this exciting phase in the establishment of their distribution businesses. TMP has a record of enabling independent businesses to flourish under their ownership and I look forward to leading the next phase of Swaines’ development from within this new dynamic environment.”