Thu, 05 Oct 2023 | BUSINESS SALE
Penrith-based financial services firm Armstrong Watson Financial Planning has acquired local rival 3G Financial. The acquisition comes as a result of 3G’s long-time owner Charles Graves deciding to step back from the business.
Graves, who has 45 years’ experience in financial services and has headed 3G Financial for 16 years, said that Armstrong Watson would be a good fit for the firm's clients and would continue to provide a high level of advice and service. Post-acquisition, Graves will continue to support the Armstrong Watson team, in order to ensure a smooth transition for the business’ clients.
Armstrong Watson, which is headed by MD Stewart Crockett and has been providing financial advice for over 50 years, is headquartered in Penrith, Cumbria and has a 55-strong team, including 19 independent financial planning consultants, across 16 offices.
Stewart Crockett commented: "We look forward to welcoming the clients of 3G Financial and ensuring that they continue to receive the highest quality of financial advice, whilst also benefiting from access to Armstrong Watson's full remit of services, including personal and corporate tax, alongside our full accountancy propositions as and where required."
Charles Graves said: "Armstrong Watson is a very natural choice - its wealth management and financial services are well respected, and I have confidence that the skilled team will look after my financial services clients well."
Read more on M&A trends in the financial services industry
Find out why post-deal integration is the most vital stage of the M&A process
Buckinghamshire IFA with £125m FUM and an average portfolio size per household just below £450k, you will be servicing highly profitable clients.
With an office, advisers and back-office staff in place, this business can continue running profitably post-sale.
Greater Manchester IFA with £52 million FUM at .05% ongoing charge, there is potential for future uplift.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.