IFG GroupFeb 2 2018

Saunderson House goes up for sale

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Saunderson House goes up for sale

IFG Group has put its financial advice business, Saunderson House, up for sale after receiving a number of offers.

The company, which is also the parent of self-invested personal pension provider James Hay, said there were several discussions ongoing about the advice firm's future.

In a market update, IFG Group said: "Saunderson House continues to perform strongly, winning clients and growing assets under advice, and is uniquely positioned in its core markets.

"The board, in consultation with its advisers, has however concluded that greater value for shareholders may be created by a sale of Saunderson House.

"In this regard, we have received a number of approaches. Discussions are at a preliminary stage. The group will consider a sale if appropriate value for shareholders can be achieved. There can, however, be no certainty that a transaction will complete."

In the same market update, IFG Group revealed that Saunderson House added 247 new clients in 2017 compared to 215 in 2016, which was driven by faster than anticipated growth in the company's new discretionary management offering.

Saunderson House now advises on £5.1bn of clients' assets compared with £4.6bn in 2016.

It was founded in 1968 and has been owned by IFG Group since 2001. It focuses on providing its services to high-net worth individuals, charities and trusts.

damian.fantato@ft.com