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June 30, 2020

Truinvest swoops on two financial planning firms

Truinvest, a UK-based financial services firm established by former Mattioli Woods executives Mark Smith and Micky Johal last year, has purchased Group Rapport and Bromwich Financial Planning.

Financial terms of the transaction were not revealed. The acquisitions bring Truinvest’s total assets under advice to £350m.

The deals align with Truinvest’s plans to have £1bn of assets under advice within a year.

The firm, backed by private family office Stonewood Wealth, targets £50m of revenues over the next five years.

Truinvest CEO Smith said: “Micky and I formed Truinvest to create a modern, forward-thinking financial services business focused on giving highly-personalised advice and supported by the best of technology.

“We believe this will enable the group to deliver great client services while freeing-up our advisers to spend more time with clients on the things that matter most in all aspects of their financial planning”.

Weybridge-based Group Rapport offers advice to corporate and private clients. It was established in 2007 and has four advisers.

Established in 1991, Bromwich Financial Planning is headquartered in Market Harborough.

Group Rapport managing director Jeremy Martell said: “In Mark, Micky and Stonewood Wealth, we believe we have found a partner who will embed our core values within a new and growing business to drive our company and client offering in the direction we all want.”

 

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