Thinc Financial Planning has merged IFAs Hart House, West Anglia, Highfield Financial Services and Baron Investments into its multi-distribution advisory business.
It has bought fee-based IFA firm Hart House, previously owned by solicitor Taylor Walton, for an undisclosed sum, adding £25m to its funds under management. Taylor Walton will act as an introducer for the Thinc group.
Thinc now has 102 advisers and intends to continue its acquisition programme, aiming to have 200 advisers on the franchise side of the business, which is currently tied to Zurich Financial Services, and 100 IFAs by the end of the year.
The group has secured backing from City institutions and plans to increase the business to 405 multi-tied advisers, 192 IFAs and 60 commercial brokers by 2006.
Thinc divides its advisers between those working in the fee-based IFA section of the business, those working as part of what will become its multi-tied side and its commercial brokers. It currently has 52 tied advisers, 25 fee-based IFAs and 25 commercial brokers.
Hart Financial director David Fryer says: “The transformation of the world of financial services means that Thinc is far better placed to achieve this objective and provide appropriate advice at all levels to Hart House's clients.”
Thinc chief operating officer Simon Chamberlain says: “We are the only organisation in the UK which has this depolarised proposition. Networks say they are going ahead with their depolarised plans but have not done anything about it yet.”