Tenet Group has established a hub in the south east of England on the back of its recent acquisitions of Chartwell Independent and Maguire Financial, both based near Bromley in London.
The respective principals, Sally Moloney and David Maguire, both used Tenet’s practice buyout scheme to enable them to retire.
The two businesses are long standing members of Tenet’s investment network.
The move creates a total of seven regional hubs, which encompass Preston, Northampton, Leeds, Edinburgh, Cardiff, Nottinghamshire and now the south-east office.
Tenet’s group operations director, Helen Ball, said: “These two acquisitions offered a great opportunity to expand our network of advice into the south east. We’ll continue to establish further regional hubs in the year ahead.”
In September, Tenet acquired Edinburgh-based Forth Financial Services for an undisclosed sum. This was the firm’s first Scotland-based practice buyout.
Mattioli Woods
Elsewhere, Leicester-headquartered Mattioli Woods has said it will continue to plough ahead with its M&A ambitions.
This comes after the firm acquired Glasgow-based financial planning firm The Turris Partnership in a deal worth up to £1.6m ($2.08m, €1.88m) in December 2019.
Ian Mattioli, chief executive at Mattioli Woods, said in a trading update on 6 January 2020: “Consolidation within both wealth management and Sipp (Self-invested personal pensions) administration is expected to continue.
“We will seek to build on our track record of successful acquisitions by continuing to assess opportunities that meet our strict criteria.”
