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Surrey-based IFA boosts funds by £20m following acquisition
Surrey-based adviser Web Financial Services has bought Bryant Kesek Financial Services as part of its five-year growth plan.
The acquisition of the former Cranleigh-based firm increases Web’s presence by two more IFAs: corporate specialist Stuart Smillie and private client expert James Child.
It also adds more than £20m in funds under management to Web, taking the total funds under management to more than £150m, according to Ross Butters, managing director of Web Financial Services.
Mr Butters said: “Following a previous acquisition, we have been looking to further bolster our adviser and client numbers and in turn, increase assets under management. BKFS brings with it around £20m in funds, expanding our total funds under management to over £150m.”
John Hughes, chief executive of Web Financial Services, said: “Prudent financial management of the business during the recent economic downturn, coupled with our service-led approach, has ensured almost 100 per cent client retention throughout these difficult trading conditions.
“This is why we have been able to put into place this phase of our expansion plans.
“This acquisition will strengthen the business, allowing us to continue to grow, as planned, over the next five years.”
Bryant Kesek Financial Services has been trading for 25 years and was previously based in Cranleigh. For the immediate future, BKFS will continue to trade as Bryant Kesek Financial Services.
Web Financial Services was founded in 2002.
