Cheltenham-based financial services and investment group Attivo has completed its acquisition of IFA Anthony Etkind & Co, based in Northwood, Middlesex, for an undisclosed sum.
Attivo will now take over the ongoing management of an additional £50m funds under management on behalf of the firm’s 100 clients.
At the beginning of the year Attivo unveiled plans to acquire at last six adviser firms in the next 12 months and is seeking to boost assets above £1bn by 2017.
Founded more than 15 years ago under the name Fountain Independent, Attivo has been no stranger to the acquisition game in the past couple of years, following its 2012 announcement that it had set aside £1m to acquire smaller IFAs exiting the industry ahead of the Retail Distribution Review in April 2012.
Since then it has completed a number of purchases of both client books and firms, including most recently the £60m client book from Kent-based Valiant Financial Consultants Limited in September 2013.
Attivo, which has expanded over time and now operates its own investment platform and discretionary management business, gained chartered status last year.
Stephen Harper, chief executive of Attivo Group (pictured), said: “This is an important strategic acquisition for us as it brings some excellent new high net worth clients across.
“Anthony Etkind was particularly impressed with the fact that we could offer such a strong client focused proposition with our own DFM and in-house investment team, which makes for an excellent ongoing service proposition.
“He was also keen to ensure that his clients would have the option available to them to upgrade to full discretionary management as part of their ongoing advice and we are obviously delighted that he saw our strengths in this area.”
