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Yorkshire group buys MFM

Yorkshire Investment Group has bought financial advisory firm Manor Financial Management and its Manor Management Services third-party admin arm.

This is the fifth acquisition by YIG since 2001 and increases its assets under management to more than 300m.

The deal will see 12 Manor staff joining YIG’s back-office team, increasing its workforce to around 100. YIG has offices in Pontefract, Leeds and Rawdon.

YIG has set up its first Sipp – the Simpplicity pension plan – dealing in the full range of Inland Revenue-permitted investments. The Sipp will initially be available exclusively to YIG clients bef-ore being opened up to the rest of the market over the coming months.

MFM chairman Keith Madeley becomes chairman of Yorkshire Invest-ment Group Business Management, an admin subsidiary of the group. Peter Jones stays as YIG managing director.

Jones says: “The group will continue to consolidate its position, specialising in wealth management and employee benefits for private clients, corporate clients and their professional advisers.”

Madeley says: “York-shire Investment Group specialises in wealth management and employee benefits consultancy and this deal will provide our clients with greater access to a wider range of services. We had an identical culture and shared strong views about where the industry was heading, that is, aiming for a fee-based system to retain a purely independent status.”

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