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Threesixty takes stake in IFA consolidator Bright

Threesixty has taken a minority stake in IFA consolidator Bright Financial Services.

Warrington-based BFS, which has outsourced its compliance support to threesixty since 2003, specialises in the acquisition of small to medium sized IFAs and has so far sealed 22 deals since launch in 2003.

Threesixty partner David Brattesani says: “We’ve worked closely with Bright Financial Services since their launch and it is exciting to reach the point where we can become even more actively involved in the future development of the business.”

Brattesani says demand for a consolidator of this nature is expected to increase in the run up to the 2012 RDR deadline, meaning the timing “could not be better”.

He says: “Enquiries have been steady throughout the last five years, and there has been a very sharp upturn in interest over the last quarter. The management team at Bright have a proven track record in consolidation and we are delighted to be working with them.”

BFS director Ian Craddock says: “We have worked closely with exiting IFAs, to ensure that our offering is attractive to them, and that their clients are serviced responsibly. This experience ensures that we are a worthwhile proposition for any IFAs who might be considering an exit strategy.”


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