Punter Southall Aspire buys JDP Financial Services in bid to expand financial planning arm
Wealth management and pensions firm Punter Southall Aspire today announce the acquisition of JDP Financial Services in an effort to expand its financial planning division.
Punter offers integrated financial advice service and investment administration platform for employers and individuals, alongside other wealth management services.
The deal for the Bedford based firm, which was agreed for an undisclosed fee, will also add three experienced financial planners to Punter's workforce.
The deal represents the second financial adviser Punter has purchased this year, after it bought IFA Focus Oxford back in June. Punter also said it had its eye on making additional acquisitions as it tries to grow itself into a national personal financial planning business.
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JDP brings around £220m assets under management over to Punter – taking its total assets under advice to £4bn.
Steve Butler, chief exec, Punter Southall Aspire said:
We are delighted to have completed the acquisition of JDP Financial Services. It is a high quality chartered financial planning business, with excellent advisers offering a range of services for individuals including at retirement. This is an important acquisition for us and a milestone in our journey to becoming a nationwide personal financial planning business.
John Cleverley, managing director of JDP Financial Services, said the deal was beneficial as there were "many synergies between our companies in terms of values and outlook".
"This deal will enable our clients to benefit from greater levels of investment and wealth management solutions, offered by a larger team and supported by cutting-edge technology solutions," he added.
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