Leeds-based financial advisers to acquire Medical Money Management
Chase de Vere, the national firm of independent financial advisers with offices in Leeds, is to acquire the financial planning business of Medical Money Management.
Medical Money Management specialises in providing financial planning advice to medical, dental and other professionals, and also has offices in Leeds.
The deal, which is due to be completed on 23 October, will see Medical Money Management’s 16 Partners and 64 employees join Chase de Vere, adding 30 independent financial advisers to the existing team. Medical Money Management has assets under management of £1.1bn.
Stephen Kavanagh, Chief Executive, Chase de Vere, said: “Chase de Vere is a secure and profitable independent financial advice company. We are aiming to grow our business and so I’m delighted that we will acquire Medical Money Management.
“We share many similarities with Medical Money Management, including expertise in advising the medical profession, a strong focus on putting clients first and a commitment to remaining independent and providing independent financial advice to our clients.
“This acquisition is another big step forward in our aim to be the leading firm of independent financial advisers in the UK.”
Craig Watson, Equity Partner, Medical Money Management, added: “The Partners of Medical Money Management conducted comprehensive research into the future requirements of our business and the infrastructure needed to maintain an expert financial advice practice. We concluded that it is best for our clients and our employees for us to become part of a larger company.
“It is imperative for us that we remain independent, we did not want to join a restricted advice firm. This is why we’re delighted to be joining Chase de Vere, a firm which is as committed to providing good quality independent financial advice as we are.”
Medical Money Management has an annual turnover of £8.1m and was established in 1971. The firm has 80 employees, which includes 30 independent financial advisers, of which 16 are Equity Partners. They are based across 8 offices in Birmingham, Bristol, Exeter, Glasgow, Leeds, Liverpool, Manchester and Sheffield.
