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Thinc buys up IFA Fenton

Multi-channel distributor Thinc Group has acquired IFA firm Fenton Financial Services as part of its expansion programme.

Fenton was established in 1980 and last year it rep-orted turnover of £1.3m. The firm specialises in the corporate marketplace and group personal pensions.

Thinc signed up its first multi-tie agreement with Friends Provident in September. Thinc chief operating officer Simon Chamberlain says the firm envisions that the marketplace will move to a much bigger multi-tie environment next year.

It now has 150 regulated mortgage and life intermediaries and the projected turnover for this year is £12m from the group&#39s 11 offices. Thinc says it hopes to expand the business to 500 RIs by 2005 and will continue to look at further acquisitions.

Chamberlain says: “Fentons Financial Services was a target for us because of its well respected reputation among leading product providers. Thinc&#39s strategy is to become the predominant national brand for advice in the UK.”


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