Wealth supervisor and Chartered Monetary Planner The Penny Group has accomplished its acquisition of Midlands Monetary Planning agency Roberts Monetary Consultancy (RFC) Ltd for an undisclosed quantity.
The Sutton Coldfield enterprise is headed by Chartered Monetary Planner Barrie Roberts.
The agency has been offering recommendation to high-net-worth shoppers throughout the Midlands for greater than 25 years and can proceed to commerce beneath its present model from its current workplace. The deal will give Roberts entry to The Penny Group’s broader infrastructure and help as one of many largest corporations within the Openwork Partnership.
The acquisition is a part of The Penny Group’s “purchase and construct” technique, which includes collaborating with follow homeowners inside the Openwork Partnership early of their succession planning journey to make sure there’s a structured integration over an prolonged time frame.
The Penny Group is the biggest wealth supervisor within the Openwork Partnership with belongings beneath administration (AUM) on the right track to high £1bn throughout 2024.
Mr Roberts stated he plans to stay energetic within the enterprise for a lot of years to make sure a seamless transition for shoppers and employees.
He stated: “I’ve recognized The Penny Group administrators for a lot of years and been impressed with their shopper focus along with their sturdy monitor file of integrating different Openwork companies.
“The change of possession supplies Roberts Monetary Consultancy Restricted and its shoppers a excessive diploma of continuity in addition to a platform to additional develop our proposition and repair mannequin.”
Graeme Morrissey, accomplice on the Penny Group, stated: “Barrie has a loyal and long-standing shopper base and we stay up for welcoming them into the broader Penny Group household. This newest acquisition is one other instance of how effectively organised succession planning needs to be.”
