FBC Manby Bowdler advises on IFA’s growth
LAW firm FBC Manby Bowdler has advised a Wolverhampton independent financial adviser on a continuing expansion programme involving the acquisition of ten smaller rival businesses.
Working with Financial Director Kevin Homfray, FBC corporate partner Kam Johal advised Newell Palmer group companies on the legal aspects of the acquisitions of three businesses based in Stafford, two based in Knowle in Solihull, two based in Stoke-on-Trent, one based in Cleobury Mortimer and two based in Bristol where Newell Palmer has established a new office.
The acquisitions have increased staff numbers at Newell Palmer to more than 100 with a projected annual turnover of £8.5m for 2013 – 14.
In addition to the new acquisitions and Bristol office, Newell Palmer has also invested heavily in a new hi-tech IT support system hosted by Brookland Computer Services, with the back office system from Capita.
Philip Stepp, Managing Director, Newell Palmer, said: “Our acquisitions, with thanks to the support of AIB Bank (GB), now reach 28. These allow us to provide a quality service to even more people and companies across the UK at a time when the financial advice industry continues to change fast. The enlarged group is performing well, as we increase profitability in challenging times.”
Kam Johal, who is based in FBC’s Wolverhampton office, said the acquisitions showed that Newell Palmer was helping to lead the way in its sector.
She said: “As a well run and professionally managed adviser Newell Palmer is able to taking advantage of legislative changes in the market through its expansion programme. We are delighted to be advising such a strong and growing Wolverhampton-based business on its acquisitions.”
With 35 partners, FBC Manby Bowdler is one of the largest law firms in the West Midlands and the largest in Wolverhampton. The firm also has offices in Willenhall, Telford, Shrewsbury and Bridgnorth.
