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Advice firm goes on acquisition trail as part of five-year plan

Advice firm goes on acquisition trail as part of five-year plan

Worldwide Financial Planning is on the acquisition trail as part of its strategy for growth over the next few years.

According to Peter McGahan, the company's founder, the aim is to create 10 new jobs, establish new hub offices and build its departments by 2025.

WFP, which already has offices in Truro in Cornwall, Southampton and Kesh in County Fermanagh, is looking to expand into Northern Ireland and is in talks with retiring advisers and firms which are feeling the strain of surging professional indemnity insurance costs and excesses, increased regulation and compliance.

McGahan told FTAdviser: “Over the past 12 months we have been very active in terms of developing a growth strategy for the firm. Acquisitions and appointments are key to the success of our five year strategy."

The company is also said to be interested in talking to solicitors, accountants and similar professionals to build a holistic service for clients in Northern Ireland. 

It is also looking to help new blood enter the industry through training up graduates into the profession.

McGahan said: “Our firm is in a very healthy position right now and our enquiries are continuing to rise, so, creating hub offices in NI, while attracting graduates and talented IFAs, will allow us to meet our growth targets by 2025.

“We are engaging with firms whose expertise matches or compliments ours and who are fully independent and are whole of market advisers like ourselves.

“It is vitally important to us that we attract the right people who share our brand’s values. Our approach is client centric, professional, caring and our research capabilities are extensive.

WFM currently has a national client base with managed assets close to £300m as at its last filed accounts.

When asked whether any deals had been approved by the regulator, McGahan said: "As deals are being structured, all necessary regulatory requirements will be met in accordance with how those deals develop.

"This is an exciting time for Worldwide Financial Planning and we are embracing all opportunities which are coming our way with a view of having solid plans in place in the second quarter of next year."

simoney.kyriakou@ft.com