Derby-based commercial broker Howard Thomas has merged with nearby Mortgage & Finance Arena.
Mr Thomas, who has been a broker for 27 years and operated his own business for the past eight years, will join forces with the seven advisers at M&FA led by managing director Suzanne Bradshaw.
He said a larger team was needed to cope with the growing volume of work at his firm. He added: "In considering the best solution for our clients it was an easy decision to join forces."
Mortgage & Finance Area, which is also based in Derby and specialises in mortgages and financial support for businesses and individuals, said the move was the start of a wider programme of expansion.
Set up 13 years ago the firm offers commercial and residential mortgages, loans and financial advice.
Ms Bradshaw said: "Howard’s experience and expertise further strengthens and broadens our already well-respected service so we can find the right solution for our clients to meet their needs."
Both firms are independent and unrestricted.
The merger is the latest example of adviser firms executing exit strategies. Yesterday it was revealed that Ovation Finance director Chris Budd had sold his business to its employees.
The Bristol-based IFA created an employee ownership trust, which will enjoy any profit made by the firm, rather than offload the company to a consolidator or issue shares to staff. It is one of just 320 UK businesses structured in this way.
Mr Budd will retain a minority stake in the business and continue in his role as the firm’s chairman.
