Derbyshire IFA sold to Black Country rival

A Derbyshire-based independent financial adviser has been sold to a Wolverhampton rival.

AIP Financial Consultants, which is based in Darley Dale, has been sold to Newell Palmer.

The purchase of AIP has added £4m of funds under management and 41 active clients to Newell Palmer’s growing client base. The newly acquired clients will be serviced by Newell Palmer’s Nuneaton office.

The deal marks the latest move in Newell Palmer’s growth strategy which has seen it acquire 39 IFA firms since 1998, with further acquisitions planned within the next 12 months.

Simon Kearney, principal of AIP, said: “Deciding to sell my business wasn’t an easy decision but I am reassured knowing my clients will continue to receive first class advice and support from Newell Palmer.”