Major Acquisition Strengthens Presence in North West Heartland
7th September 2006
Buckles, Wales’ largest Independent Financial Adviser has acquired Chester-based IFA, Quinn Thomas & Partners Limited, for an undisclosed cash sum.
The acquisition will strengthen significantly Buckles’ presence in North Wales and the North West of England and will increase the total number of active clients by 25 per cent to over 25,000. The enlarged client base will be serviced by an adviser force that will expand by 5 to a combined total of 41. Annualised renewal commission will rise to approximately £1.3m with total turnover anticipated at £5,253,000 for the current year.
The three principals and partners of Quinn Thomas – Maurice Quinn, Wyn Thomas and William Minards – will all join Buckles and continue to service their clients as independent financial advisers out of the existing Chester offices. The addition of the Quinn Thomas administration team will also complement and reinforce Buckles’ back office capability, particularly in the area of pensions.
Nigel Speirs, Buckles’ Chief Executive, said: “This constitutes a major strategic acquisition for Buckles, one that will enhance our rapidly-developing base in the North West. I am confident that our joining forces will bring opportunities and benefits to all parties, including staff – some of whom may wish to take advantage of our highly successful graduate training programme. Clients will have access to a greater range of high quality products, such as the Snowdonia Funds.
The Snowdonia Fund is a very popular investment management service. £100m has been invested by clients over the past 2 years since launch, exceeding all our expectations in terms of performance and popularity.”
