View more on these topics

Towergate Financial Services acquires Albannach Financial Management

Towergate Financial Services has acquired Albannach Financial Management marking the first move in its plans to become an IFA consolidator.

Albannach is a firm of wealth management, financial planning and mortgage specialists based in Scotland with 42 staff.

Under the terms of the deal, Laurie Dempster will remain as managing director and will continue to grow the business alongside his current management team.

The 42 staff will continue to operate from their offices based in Edinburgh and Glasgow whilst looking to expand their Scottish presence.

Towergate Financial Services chairman Patrick Snowball says: “I am absolutely delighted to welcome Laurie Dempster and the team from Albannach into Towergate Financial Services. This acquisition will form the basis of our consolidation plans in Scotland and the north of England. Over the next three months we will be announcing further moves as we execute our consolidation model for the IFA market”.

Dempster says: “Joining forces with Towergate Financial Services at such an early stage of its development is a very exciting opportunity and presents us with the ability to enhance our client proposition whilst maximising the growth opportunities available through organic development and further acquisitions.”

Recommended

FundsNetwork prepares for RDR with Fofs

Fidelity FundsNetwork has prepared for the implementation of the proposals in the Retail Distribution Review by introducing a fund of funds range with different share classes for fee-based and commission-based advice.

Swip staff answer the call

The Diary gets many press releases in its email box each week but one from mortgage PR guru Richard Hurst caused amusement in the office last week.In a bid to get publicity for his client, specialist lender Swift Group, Hurst revealed how the firm had chosen a member of staff to be the voice on […]

Miton enjoys ride in the theme park

Miton Asset Management says the consistent outperformance of its special situations fund over the last 10 years is due to long-term asset allocation without following any particular investment style or benchmark.

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment