Companies  

Berkshire IFA in bolt-on as it predicts RDR referral boom

Wokingham-based independent advice firm Ascot Lloyd Financial Services Ltd has acquired Suffolk-based Ensors Financial Planning Ltd for an undisclosed sum, as it prepares for a post-Retail Distribution Review boom in referral business.

Ascot Lloyd provides personal financial services including advice on protection and investment products, pension planning and tax planning. It also offers corporate services, managed from a dedicated office, including group and corporate pensions, stakeholder pension scheme advice, financial planning for directors.

Regional firm Ensors provides consultancy and planning for both personal and corporate clients in the areas of investments, pensions, private medical insurance, share protection, life assurance and critical illness.

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Pat O’Hara, managing director of Ascot Lloyd, said the firm was expanding from its current five office set up as it prepares for a rush of referrals business in particular from accountants, many of which he said will “choose not to handle financial services business ‘in-house’ following the implementation of the RDR”.

Ensors itself was previously owned by an accountancy firm, Ensor Chartered Accountants. A spokesperson for the former owner said the sale will see Ascot “increase significantly the resource available to clients of the business” and confirmed that the firm will continue a referral relationship with the firm.

Richard Dunbabin, chief executive officer of Ascot Lloyd, said: “EFP is a high quality acquisition for Ascot Lloyd and complements our expanding activities to provide a national network of financial services from Ascot Lloyd whilst adhering to our personal-touch philosophy.

“The acquisition contributes to Ascot Lloyd’s strategic positioning of building a stronger presence in the East Anglia region. I look forward to EFP being fully integrated within Ascot Lloyd and contributing positively from the outset.”