Jonathan Simms in the corporate team advisers the vendor.
Leeds-based Oakleaf Independent Financial Services owned by Andrew Briggs, has been sold for an undisclosed sum to a new company, Oakleaf Independent Financial Services Limited, owned by local businessman, Simon Hudson. The vendor was advised by Jonathan Simms in our corporate team.
Formed in 1993 and based in Roundhay, the IFA has built up a strong reputation in the region. It will continue to benefit from Andrew Briggs’ expertise and 34 years’ of financial services experience as he will remain with the new company as a consultant.
Simon Hudson was formerly chief executive of Tenet Group in Horsforth which provided compliance services to Oakleaf. He explains: “Oakleaf had been a customer for many years, so I know them well. I believe there are great opportunities within the IFA sector because of increased consumer demand for informed, objective advice and a greater awareness of the need to plan for the future. Reputable IFAs like Oakleaf will benefit from these trends as well as from the move towards fee rather than commission-based advice.
“We look forward to working with Andrew to provide continuity while building the business and offering a broader, more comprehensive service for clients.”
Mr Briggss added: “By joining forces with Simon, we will be able to continue to provide high levels of customer care, but will also increase and update the range of services provided to clients. Although we will remain in Roundhay, the team will immediately double in size and will benefit from some dynamic younger talent.”
Mr Hudson continues: “With the level of qualifications needed by IFAs continually increasing, there are lots of people considering merging or selling. There’s a great opportunity for firms with ambition and enthusiasm to join us as we are on the look-out for further acquisitions and aim to build a group of four to six firms.”
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