Two acquisitions in a week for growing IFA firm

WOLVERHAMPTON finance firm Newell Palmer completed two acquisitions last week as it continues to grow its funds under management.

The IFA company acquired Shrewsbury-based Boyack Meeks and Sensible Finance in Leicester. The two deals added £9m of funds under management and 110 active clients to Newell Palmer’s roster.

Newell Palmer has more than quadrupled its funds under management in the last five years to around £700m.

“We’ve all worked incredibly hard to complete these four acquisitions and that is it now for this year, but we do have prospects lined up for early 2017,” said Newell Palmer’s finance director Kevin Homfray.

He added: “Growth is one of our biggest goals at Newell Palmer and our strategy to make this happen isn’t slowing down anytime soon.

The firm was founded in 1998 and has had a strategy to grow through acquisition. More than half of its 41 acquisitions have been in the last four years.