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Torquil Clark in talks on five buys to extend its coverage

Torquil Clark is in acquisition talks with five IFA companies as part of a plan to boost its national presence and expand its headquarters.

The firm has plans to increase its turnover to £10m by making acquisitions and employing more people at its restored Gothic church offices in Wolverhampton.

The firm, which has more than 53,000 clients and 57 staff, including 10 IFAs, has been on the lookout for about six months for smaller firms to become part of the business.

Torquil Clark began in 1994 with PepDirect, a Pep dealing service. This was developed into TQ Direct Choice after an influx of business. It now offers a fund supermarket with over 800 investment funds and 55 fund managers.

Managing director Don Clark says: “We have been looking for businesses that complement ours and that will bring us more of a national presence. We have wonderful offices here and we could probably employ twice as many staff as we do. By moving other companies under our roof we would gain some economies of scale.”

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