Benchmark buys advice firm Advison

Schroders’ subsidiary has also picked up a 49% stake in a chartered financial planning firm

Benchmark Capital has completed its 100% acquisition of Advison and bought a 49% stake in financial planning firm, Chartered Independent.

The owners of Milton Keynes-based Advison took part in Benchmark’s practice buy-out programme and will remain with the business and continue to service their existing clients.

Managing partner Kevin Minter said: “Any adviser looking towards their own retirement planning will not be short of offers in the current market. Having built our business over 20 years, we really care about our clients and wanted to ensure a smooth transition, when the time was right.

“Finding a partner who felt the same was really important to us, and being able to continue looking after our clients by staying in Benchmark’s financial planning business, until we’re ready to move on, makes the transition for both us and our clients as smooth as possible.”

Financial details were not disclosed.

Of its second, minority stake acquisition; Benchmark said existing network member Chartered Independent will leverage the Schroders Group subsidiary’s capital and infrastructure support as it focuses on continued growth. The advice firm will remain independent.

Owner Gavin Roberts said: “Our partnership with Benchmark is a compelling opportunity for us to further enhance our client proposition through the award-winning tools, knowledge and experience they provide. Their investment will enable our growth to accelerate further with the support of a company that truly has our values, and client outcomes, front of mind.”

Financial details were also not disclosed.

Benchmark said the two businesses “represent very different journeys for the owners”, demonstrating its flexible approach to supporting advisers on their individual business needs, “at every stage of their development”.

“Both the acquisition of Advison and the investment in Chartered Independent represent the next stage in Benchmark’s strong pipeline of deals which are due to take place over the coming months,” the firm added.

Ed Dymott, managing director wealth at Benchmark, added: “We’re delighted to welcome Advison to Benchmark and to deepen our relationship with Chartered Independent as we continue to grow our presence around the country. These are two very different journeys for the business owners. Advison, which is joining our own financial planning firm and remaining in the business, whilst the owner of Chartered Independent, who was already familiar with Benchmark’s award-winning solutions as part of our network, were both looking for support to continue to grow.

“Our approach is resonating strongly in the market with advisers wherever they are on their journey; starting up, looking for efficiencies, growing, or building a secure pathway to exit.”

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