Attivo to buy 12 more adviser client banks in 2015

Attivo to buy 12 more adviser client banks in 2015

Chartered financial planning firm Attivo has revealed plans to take advantage of the opportunities arising from pension de-regulation next year.

At the firm’s year-end in March 2014 there were £500m funds under influence and turnover of almost £4m.

Stephen Harper, chief executive of Attivo Group, told FTAdviser that the strong growth continued throughout the year and it is on target to increase turnover further by 50 per cent by March 2015.

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However, rather than sit back and celebrate he said there are even more ambitious plans for the 2015 to 2016 tax year, based in particular around buying in additional client banks to boost assets.

In 2014 Attivo bought six adviser client banks. With a 98 per cent retention rate for all newly acquired clients from these firms and client numbers increasing from 2,000 to 3,000, Mr Harper said he was confident the firm can double the number of client banks in 2015.

“Attivo’s ambitious growth objectives will be ramped up in 2015 as we expect to make a further 12 acquisitions of IFA client banks.

“Through the addition of new clients – and given our proven expertise in retaining new clients – we expect to generate, therefore, a doubling of turnover on 2014 to 2015.”

Alongside this growth, Mr Harper said he wants all Attivo’s financial planners to reach a minimum standard of chartered status by the end of 2015.

He said: “I am pleased to say that we are well on the way to achieving this through the launch of the Attivo academy. Just as our financial planners are expected to reach chartered status, our investment managers are expected to achieve level six.

“Our academy will be used to train our people in-house to achieve the standards, qualifications and technical skills required by the profession and to embed our values and culture focused on client outcomes and services.

The firm is also launching a graduate client engagement recruitment scheme.

Mr Harper stated: “RDR and the increase in regulatory burden means we will continue to see a large number of advisers leaving the industry. These have tended to be older and sole traders who may not have the resources or the skills set to change their business model in line with changing regulation.

“Attivo is well placed to take advantage of these smaller businesses who may be looking to find a quality wealth manager to look after their clients.”