Financial advisory firm Newell Palmer has completed the acquisition of Cheshire-based advisor Vale Financial Services for an undisclosed sum.
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The deal will add additional £9m of funds under management and 70 clients to Newell Palmer bringing the total number of acquisitions up to 36.
The acquisition marks as Newell Palmer’s third acquisition in 2015, following the purchase of Stephen Dagnall Financial Management in April.
The company has more than quadrupled its funds under management in the last five years via acquisition and referrals and is working with Ortus Group to boost its funds to £1bn in the next three years.
Till date, the total costs of acquisitions have ranged between £30,000 and £2m.
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By GlobalDataNewell Palmer financial director Kevin Homfray said that acquisitions form an integral part of the growth strategy for this year and beyond.
Vale Financial Services, which includes nine IFAs, has been serving clients for 16 years.
