Further success for Wolverhampton finance company.
Midlands’ Independent Financial Advisory firm the Newell Palmer Group has acquired Oxfordshire-based Jenner Financial Management. The acquisition was completed on 20th March 2015 and represents the first of four acquisitions already agreed over the next six months, with more in the pipeline. This is the 34th completed acquisition for the group over the past 12 years, many of which, over the past three years, have been assisted by Ortus Group whose head office is based in Birmingham.
Wolverhampton-based Newell Palmer Group has more than quadrupled its FUM to £650 million in the last five years, growing through acquisition and referrals, with a clear strategic plan working with Ortus Group to increase this to £1 billionn within the next three years. The acquisitions so far have ranged between £50,000 to £2 million in consideration.
The principal of Jenner Financial Management, Mark Jenner, who will be working with Newell Palmer following the deal, said “After many years of change in the Financial Services industry we felt the time was right to find a larger partner who not only shares our values and levels of professional care, but who is also able to offer a wider range of products and services to our clients. After an exhaustive search we are delighted to have found Newell Palmer and we are sure they will continue to offer the levels of service and advice we feel our clients deserve”.
Kevin Homfray, Financial Director of The Newell Palmer Group, added “I am delighted that Mark Jenner chose Newell Palmer as the home for his clients. We have a vast amount of experience in acquiring IFA firms and I think Mark could see that Newell Palmer would take care of his clients and more importantly provide his clients with good advice” .
Justin Hodgin, Managing Director of Ortus Group, a leader in IFA & Accountancy M&A, said “Working with Newell Palmer on the numerous deals we have in development, it’s very simple, they do what they say they will do. The negotiation process is straight forward, as it is all about whether or not the clients of the firm being acquired will receive the same or a higher standard of service and can gain more from being under the guidance of a firm like Newell Palmer, if so, the rest falls into place.
“This deal with Jenner Financial Management is the 1st this year through Ortus Group, but with another two more at head of terms, this is the start of another great year ahead partnering Newell Palmer with their growth strategy.”