Cheltenham-based financial services and investment group Attivo has become the latest adviser business to proclaim its acquisitive credentials as it announced it is in talks to acquire at least six adviser firms in the next 12 months and is seeking to boost assets above £1bn by 2017.
Although Attivo would not name any of the six firms in its deals pipline, a spokesperson told FTAdviser its first acquisition is due to complete around mid-March, with the rest to follow throughout the rest of the year.
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 after it announced a £1m war chest 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 Ltd in September 2013.
Attivo, which has expanded over time and now operates its own investment platform and discretionary management business, gained chartered status in December 2012.
Attivo chief executive Stephen Harper said: “This year we have ambitious, but we believe realistic, plans to take our growth up a level and move rapidly towards our target to have £1bn funds under management by 2017.
“Many of our RIs will reach full Chartered status and many other paraplanners and head office staff are taking CII and FPS diplomas or similar qualifications.
“2014 brings many challenges but also big opportunities in areas like auto-enrolment and retirement planning as well as across a broader investment and wealth management marketplace.”
Mr Harper said Attivo is also investing heavily in marketing to raise its profile as it becomes more acquisitive.
Since the beginning of 2014 several other firms have announced acquisitions - while a number of others have announced ambitious acquisition plans.
Earlier today (14 January) Belfast-based Davy Private Clients revealed it had completed its fourth acquisition in two years with the purchase of IFA Square Seven Financial Planning LLP for an undisclosed sum.
Last week (9 January), Reading-based IFA consolidator Bellpenny completed its 15th acquisition in as many months with the purchase of two firms based respectively in London and Birmingham.
At the end of December another Reading-headquartered advisory business, The Beaufort Group, announced its intention to go on a buying spree in 2014, with plans to boost assets by £150m through the purchase of smaller rivals.
Elsewhere in December wealth manager Towry announced the acquisition of Bristol-based Lighthouse subsidiary and appointed representative Deverill Black & Company in a deal worth more than £500,000.
Earlier in the year Towry boss Andrew Fisher revealed to FTAdviser sister magazine Money Management that his firm was in talks to buy some 85 firms as it sought to double adviser numbers by 2015.
