Mergers and acquisitions  

Westerham-based financial planning company buys first firm

Westerham-based financial planning company buys first firm
Paul Mitchell, group chief executive officer at GSI Group

South-east financial planning company GSI Group has bought its first firm, as part of its plans to a move towards a portfolio valued at £1bn within five years.

Oakfield Financial Consultants, the firm GSI Group purchased, is based in Hampshire and has a wide range of financial support and advice services including full financial planning and mortgages.

GSI Group directors said buying the firm from owner Barry Riglar was a perfect fit and an appropriate first step in its vision for further growth, in addition to the development of an asset management business.

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Riglar said: “After having met with the team at GSI, I was left with no doubt that we shared a similar company culture and set of principles, on top of that, there were no surprises, everything that was said, was done, it was an easy process and it simply all fell into place.”

Westerham-based GSI Group was founded in the early 1980s and specialises in creating personalised plans for savings and investments, estates and IHT planning, protection, pensions, and retirement.

Paul Mitchell, group chief executive officer said it has £1bn in its sights after establishing “an ambitious growth strategy”.

Mark Buck, business manager at GSI Group, said: “Continued growth through word of mouth about our services, trust, and loyalty in what we offer and being recognised for excellence has meant we have been able to grow organically even in the face of adversity and the challenges that recent unprecedented times have brought.

“Working hard to maintain that growth and bringing a more strategic view for the future – just as we advise our clients to – has led us to realise the very encouraging potential for further expansion that we have.”

He added: “We have successfully raised capital and are delighted to have been able to smooth the way to support Barry, bringing Oakfield Financial Consultants to the GSI Group family.”

The firm, which has a total of 16 employees, said it was was keen to hear from small to mid-sized financial services companies based around the M25. 

The group is interested in exploring potential acquisitions in this region, as part of its immediate and continued expansion plans.

Buck added: “These are exciting times not only for us but also for those in our industry who have founded and built ongoing, successful financial and wealth management companies and are looking for a way to exit when the time is right as well as ensuring a smooth and trusted transition, with maximum peace of mind for their many loyal customers.”

“We would ask them to get in touch to discuss mutually beneficial opportunities informally and in the strictest of confidence.”

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