Cheltenham-based financial services and investment group Attivo Group has completed its second acquisition of this year, Amersham-based Alistair Cliff, for an undisclosed sum.
Attivo will now take over ongoing management of an additional £10m funds under management on behalf of the firm’s 100 clients.
In March 2014 Attivo announced its plans to double current funds under management to £1bn by 2017 with at least six adviser firm acquisitions planned for the next 12 months.
Last month saw the acquisition of Middlesex-based Anthony Etkind, adding a further £50m funds under management.
Stephen Harper, chief executive of Attivo Group, said: “Having completed a number of larger acquisitions over the last 12 months, I am delighted that we are able to help Alistair and his clients.
“I am particularly pleased that Alistair recognised that Attivo are well placed to help clients of advisers ‘big or small’ when they choose to retire or leave the industry.
“He was impressed that we treat every client as important and have a dedicated team who manage the transition from both an operational and client engagement perspective to make it as seamless as possible.”
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.
