Workplace savings and pensions business Punter Southall Aspire is to acquire Oxford-based IFA Focus Oxford as it outlines its ambition to set up a national advice service.
The acquisition is part of the firm’s plan to integrate its retail advisory arm and corporate business.
Focus Oxford has £200m of assets under management and the deal is expected to be completed by May 2018.
It is the first of several planned acquisitions to take place over next few years.
Punter Southall Aspire chief executive Steve Butler says the firm is considering IFAs of all sizes with £200m to £1bn of assets under management.
He says: “I hope to announce two to three [acquisitions] per year over the next few years as we build a national advisory business.”
He adds: “[The Focus Oxford] deal will give us a complete proposition for individuals and employers – the ability to deliver financial advice and education in a range of ways, from face to face meetings through to telephone and online consultations.
“This purchase is key to our business strategy. We plan to grow our retail advice business significantly in the next few years and hope this will be the first of several acquisitions of IFAs.
“It will enable us to build assets on our investment platform and provide our clients with first class financial and investment solutions that will support their retirement planning.”