Newell Palmer completes 50th acquisition
Financial adviser group Newell Palmer has completed its 50th acquisition with the purchase of Macclesfield-based The Acumen Investment Partnership.
Since the company’s founding in 1993, Wolverhampton-based Newell Palmer has been absorbing IFAs of varying sizes in order to achieve its growth ambitions. Acquisition number 50 completes during a landmark year in which the business celebrates its 25th birthday.
Acumen senior partner, Nick Cosby, is retiring after 20-years servicing his clients in Cheshire and surrounding areas. This acquisition adds £35 million to Newell Palmer’s funds under management which is now in excess of £2 billion. Acumen’s 119 active clients will be serviced by the advisory team at Newell Palmer’s Wolverhampton office.
Newell Palmer has a longstanding relationship with professional brokerage firm, Boston Bailey Group, and this is the 17th acquisition that has been completed with their partnership.
Anne Clarke, divisional director with Boston Bailey Group, a leader in IFA and accountancy mergers and acquisitions, said: “Having worked closely with Newell Palmer over the past 4 years I am delighted that the acquisition of Acumen Partnership has completed thus marking our 17th deal since beginning our partnership, with more yet to come.
“Newell Palmer offer a straightforward process, they provide the firm being acquired with the security of providing their clients with the same if not a higher standard of service and the experience you would hope for during this emotive decision making.”
Newell Palmer finance director, Kevin Homfray, said: “We work especially hard to find IFA firms that suit our own business model so I’m delighted that we have hit acquisition number 50 in our celebratory 25th year.
“Nick’s firm aligns perfectly with the way we do things here at Newell Palmer and our Wolverhampton advisory team look forward to meeting and advising their new clients.”
Nick Cosby added: “As my retirement approached I knew that I had to look for a successor to take on the firm that I have spent a large part of my career building.
“With Newell Palmer’s size and extensive resources I am confident that my clients will be well looked after, and I would like to thank Kevin and his team for making this a smooth transition.”
