The Consulting Consortium (TCC), an independent regulatory services provider in UK, has acquired Swaines for an undisclosed sum, in a bid to target small advisory businesses.
Both businesses provide regulatory consultancy and compliance related business support services to the financial advisory industry.
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The deal will extend the scope and size of TCC’s service proposition in response to a growing demand for compliance consultancy, especially from smaller UK advisory firms.
Following the acquisition, Allen Swaine will remain in his role as chief executive of Swaines, which will be known as a TCC group company.
Joanne Smith, CEO at The Consulting Consortium, said: "Smaller, niche firms are in need of a quality-driven regulatory service provider, like TCC, in what is a fragmented market predominantly consisting of many small compliance providers.
"The addition of Swaines into the TCC group of companies strengthens our ‘Intermediary’ proposition and enables us to consolidate further the UK regulatory services market affirming TCC’s market-leading status," Smith added.
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By GlobalDataAllen Swaine, CEO of Swaines, said: "Being part of the TCC Group will benefit our clients and target market of smaller advisory firms enormously. We now have additional skilled resources and expertise at our disposal within the TCC Group to tackle all regulatory issues, which can only add value to our clients. Swaines style of personal and bespoke servicing will remain unchanged."
