IFA deal for Prest Financial

IFA deal for Prest Financial
STOCKPORT adviser Prest Financial Services has acquired the independent financial advice team of accountancy firm Booth Ainsworth.

STOCKPORT adviser Prest Financial Services has acquired the independent financial advice team of accountancy firm Booth Ainsworth.

Prest said the deal would increase its funds under management from £200m to £250m.

The value of the transaction was not disclosed and it was not clear how many staff would be transferring from Booth Ainsworth, which is also based in Stockport.

Prest Financial Services has 18 staff and six qualified independent financial advisers (IFAs).

Managing director Graham Prest said: “This acquisition works well for both companies. We have had a close working relationship with Booth Ainsworth for several years and will continue to work together with existing and future mutual clients.

“The move is seamless for existing clients who will continue to be advised by the same team but will be able to benefit from the wider planning and wealth management resource we have here at Prest. We have ambitious growth plans and aim to double the business via organic growth or further acquisition in the next three to five years.”

Robert Loveday of Lockett Loveday MacMahon advised Prest Financial and Turner Parkinson advised Booth Ainsworth.

Click here to sign up to receive our new South West business news...
Close