Wimbledon-based firm Holborn Financial has bought the business of retiring IFA Gary Cook for an undisclosed sum.
Cook is the principal of IFA firm Gary Cook Financial Services which is based in Maidstone, Kent.
He said: “I undertook much research and interviewed a number of would-be buyers of the business which I had built up over the years.
“After much consideration, I agreed terms with Holborn Financial. It is a larger family-based, independent chartered financial planning firm, with greater resources and an existing presence in Maidstone.”
Cook said he was “extremely confident” that former clients would build successful relationships and receive a comprehensive and trustworthy service.
Emyr Blease, managing director and founder of Holborn Financial, said: "When the time comes to retire, the overwhelming concern is that the clients are well looked after.
“We are delighted that that concern was fully addressed and that Gary chose Holborn Financial."
In May 2021 Holborn Financial acquired Nigel Field Financial Services of Maidstone, Kent.
Earlier this month, Holborn Financial bought Kingsley Financial Management of Whitchurch for an undisclosed sum.
Kingsley was founded by Eamon Keelan nearly 20 years ago and advises 120 private clients with £20mn of assets under advice.
As part of the purchase, Keelan was retiring with immediate effect.
Blease said: "Our aim is to expand in a measured and cautious way. We are keen to acquire the businesses of IFAs who are planning to retire.
"Many IFAs started their careers in the corporate world, working for banks, large investment, life and pension firms, before deciding to set up on their own. That is the path I took.”
He added: “I understand how these entrepreneurs, unfettered by corporate life, found the freedom to build businesses based on the highest possible standards of service, leading to lasting relationships with clients."
sonia.rach@ft.com
