Westerham-based financial planning business GSI Group has bought Oakfield Financial Consultants for an undisclosed sum.
GSI provides savings, investments, estates and IHT planning, protection, pensions and retirement services.
Chief executive Paul Mitchell said this is the first acquisition for GSI as it enacts its growth strategy to move towards a portfolio valued at £1bn within the next five years.
Oakfield has offices in Hampshire and offers financial advice services.
Mark Buck, business manager at GSI, 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. 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.
“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.”
Barry Riglar, owner of Oakfield, added: “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.”
This article originally appeared on our sister publication, International Adviser.
