Alderley Asset Management has been purchased by TPD Wealth Management, a company owned by Alderley’s two directors.
The deal comes as Alderley Asset Management was hit by historical claims regarding the alleged mis-selling of products, according to Insider Media.
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The sale, for £155,000, has allowed for the transfer of client files, allowing the purchaser to continue to provide the services required, according to the publication.
Following the deal, the new management will focus on the pensions market.
As part of the deal, Leonard Curtis has been appointed as the administrator on 27 February, with Kevin Murphy and Andrew Poxon named as joint administrators.
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