The Thistle Initiatives Group has acquired compliance service provider UKGI for an undisclosed sum.
Warrington-based UKGI provides compliance to all those involved in the sale of general insurance products, directly authorised firms and appointed representatives, retail and wholesale intermediaries and high street brokers.
UKGI said it will continue to operate as a separate and distinct brand and continue to provide the same range of high quality services via the existing highly experienced team.
Jerry White, managing director of UKGI, said that the acquisition means that UKGI will now have access to a broader portfolio of products and services via the new team, plus an even closer relationship with the regulator and key trade organisations.
Mr White said: “For both UKGI and Thistle the primary driver for the change is to leverage the very significant competencies and best practices across both organisations in order to add even greater value to our clients, provide access to new markets, products and innovative services whilst delivering truly excellent compliance advice, consultancy and support.
“From my personal perspective I am genuinely excited about the opportunity this change presents for customers of UKGI – I really believe this change has the potential to be a landmark moment for the UKGI business.”
Speaking to FTAdviser, James Dingwall, chief executive of the Thistle Initiatives Group, said: “We are finding more and more that the UK financial services sector is evolving through innovation and entrepreneurialism and our bespoke services, technical knowledge and expertise in the retail sector is what regulated firms actually want - the days of tick box compliance services have been confined to the history books - proactive and value add is the future.”
Earlier this year, Thistle acquired Judicial Assess Management Limited as part of its expansion into the investment management sector.
This addition to the Thistle will allow it to expand its appointed representative services to firms wanting to add discretionary investment management who either do not have the capital to start up or the relevant experience.
