Bristol-based financial planning consultancy Citimark Partnership has purchased the financial planning unit of local pension consultancy and actuarial firm Trigon.
The deal value was not divulged, other than the fact that it brings assets of £60m to Citimark.
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The takeover boosts Citimark’s assets under advice to £300m.
As part of the deal, Citimark absorbed the acquired entity’s five employees including two financial planners.
Headquartered in Bristol, Trigon specialises in asset and liability modelling, cashflow analysis as well as long-term investment strategy.
Citimark CEO Mark Incledon calls the two firms an “excellent fit”.
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By GlobalDataIncledon stated: “I believe that Trigon and Citimark Partnership are an excellent fit, with our family firm values and ethos being shared by those joining us from Trigon.
“The way Trigon runs its financial planning business fits in with our management style. I am very confident that this transaction will enhance our offering to clients of both Trigon and Citimark Partnership, who now have a greater and deeper pool of expertise to work with.”
Founded in 1985, Citimark serves private, trustee and corporate clients. The business is regulated by the Financial Conduct Authority.
Recently, the firm snapped up family office advisory firm Chawker & Co, which caters to families, UHNWIs, charities, and trustees.
