HomeBussinessNational advice firm Milecross completes first deal of 2024

National advice firm Milecross completes first deal of 2024

Date:

Related stories

spot_imgspot_img

Milecross Financial has acquired Dundee-based Osprey Financial Services in a deal that adds £30m of assets and around 600 clients to the national advice firm.

Osprey Financial Services is a long-established practice offering advice across pensions, investments, mortgages and protection.

The business will be fully integrated under the Milecross umbrella, with all staff retained and clients transferred.

Commenting on the deal, Milecross chief commercial officer Chris Thorndycraft said: “Knowing which acquisition opportunities to pursue is never easy, however, the cultural and geographical fit, plus the great people at Osprey, made this an easy decision for us.

“Their holistic approach, across all advice areas, mirrors ours, which will ensure a smooth integration between the two businesses.”

Osprey Financial Services principal Mike Smith added: “There was already a good working relationship between the two businesses, and the geographical fit was obvious.

“Milecross’ track record, having completed a large number of acquisitions in the recent past, also provided us with tremendous comfort that the deal would be completed smoothly.”

This is the first of several acquisitions that Milecross has planned for 2024, as they deliver a strategic plan to add high-quality businesses in their existing locations while breaking new ground in other areas of the country.

Milecross founder and chief executive Paul Dalzell said the business has acquired over a dozen practices over recent years and expects to complete three or four further acquisitions in 2024, adding around £250m of assets under management.

“Vendors are attracted by our national presence, straight-talking approach and ability to deliver on our promises,” he said.

Milecross provides financial advice throughout the UK with over 90 advisers and 30 locations providing advice to clients on the full range of product areas, including pensions, investments, protection and mortgages.

The firm has around £450m of assets under management and arranges approximately £500m of mortgage lending per year.

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img