Financial advice network Corbel Partners has completed four buyouts in the past month as it helps its advisers plan their financial services exit.
Three of the acquisitions were already appointed representatives of the network, with the third being the client bank of a registered individual.
One of the acquired firms is Staffordshire-based advice company Wealth Design.
The firm’s 350 clients and £98m ($125m, €114m) assets under management (AuM) will now be under Corbel Partners’ supervision, although the Wealth Design brand will remain, and the four existing advisers will stay with the business. Another unnamed adviser is set to join the firm imminently.
The financial terms of the deals were not disclosed.
Buyout scheme
Corbel Partners founders Paul Heath and David O’Hara said the four acquisitions are the first in a series, as the network launches its members-only buyout proposition.
The firm has two further acquisitions planned for 2023.
Heath said: “We have offered budding advisers the chance to grow their firms from the ground up for many years.
“Now, the final piece of the puzzle is giving them the opportunity to sell their business to a trusted internal buyer when the time comes.”
O’Hara added: “Our inception-to-exit strategy offers advisers a non-consolidator option that keeps their firm within the network they’ve known for years.”
