Citimark Partnership has bought the financial planning arm of pension consultancy firm Trigon for an undisclosed fee.
The acquisition adds £60m ($72m, €66m) of assets to Citimark Partnership, taking its total assets under advice to £300m.
Five staff will make the move as part of the takeover, including two financial planners.
Trigon, which like Citimark Partnership is Bristol-based, will be able to provide expertise on asset and liability modelling, cashflow analysis and long-term investment strategy.
Acquisition strategy
Mark Incledon, chief executive at Citimark Partnership, said: “The way Trigon runs its financial planning business fits in with our management style.
“I am very confident that this transaction will enhance our offering to clients of both Trigon and Citimark Partnership, who now have a greater and deeper pool of expertise to work with.”
This deal follows on from Citimark Partnership’s acquisition of Chawker & Co in February and is the latest phase of the the firm’s growth plan.
Established in 1985, Citimark provides independent financial planning and investment services to private, trustee and corporate clients.
It is authorised and regulated by the Financial Conduct Authority.
