Beech Tree’s Advanta Solutions continues its acquisition strategy and, hot on the heels of announcing three bolt-on acquisitions in Scotland, now announces its acquisition of Genesis Financial Planning Ltd, a London based advice firm for an undisclosed sum.
Advanta’s fourth acquisition of the year adds a further £150m AUM to Advanta’s stewardship. With a remit to grow its independent wealth management and financial planning business, Advanta has a strategy of acquiring high quality firms from retiring owners and business leaders.
Commenting on the transaction, Adam Horn, Genesis’s owner and Director said “Having built up a base of great clients over the past 30 years it was important for me to find the right company to merge with. This process was made much easier knowing there is so much cultural synergy between our two companies sharing the same values, professionalism and client service ethos. Advanta will provide the resources to develop and enhance the proposition to our clients”.
Craig Webster,CEO of Advanta, added: “We are delighted that Genesis has decided to become part of the Advanta team and that Adam, his clients, and staff are joining us. Adam has built a fantastic reputation with his clients and we look forward to working with him for the long term on the next phase of his journey.”
Webster further commented “Clients are, quite rightly,demanding more from the firms they trust their financial planning to. As a firm focused on its clients by providing insight and understanding married with service, experience and qualifications, the FCA’s Consumer Duty is aligned to the founding principles of Advanta. Raising the standards of advice and service is central to our strategy of creating a professional environment for our clients.”