M&G WEALTH TO ACQUIRE PLYMOUTH-BASED IFA FIRM

Fund manager and wealth manager M&G is to acquire the national IFA firm Continuum Financial Services for an undisclosed sum.

M&G plc will take an initial 49.9% stake in the Continuum this year with an agreement to acquire the remainder over the following 2 years.

Launched in 2014 by founding partner Martin Brown, Continuum has about 60 IFAs operating nationally through its brand. The business has assets under influence in excess of £1.5bn and some 12,000 clients. It will become part of M&G Wealth but will retain its own brand and sit alongside M&G Wealth’s existing businesses.

M&G Wealth is part of M&G plc and has four main parts, M&G Wealth Advice, M&G Wealth Platform, M&G Wealth Investments and a retail investment funds business, M&G Direct.

M&G Wealth has acquired a number of businesses since being launched in September 2020 with the mission to tackle the ‘advice gap’ by increasing its scale and services.

Managing director at M&G Wealth, David Montgomery, said: “This was an unmissable opportunity to partner with another fast-growing, top quality independent financial advice business.  Continuum has highly experienced leadership and advice teams and has demonstrated a clearly defined strategy to deliver comprehensive solutions to their clients. We are excited to be able to support their strong ongoing growth plans.”

Managing partner at Continuum, Martin Brown, said: “Through market opportunities created by the lack of distribution, an increasing demand for high quality financial advice and changes driven by the pandemic, we extensively reviewed our strategic options to best increase our scale and deliver to this need. This development enables us to continue to accelerate the growth of our business sustainably, increase our national footprint of high-quality individuals and enhance our offering to clients and advisers. Ultimately, this allows us to deliver a greater reach to fulfil the growing advice need in the market.  Importantly this ensures Continuum will progress its long-term ambitions of becoming a household brand and importantly a ‘home for life’ for clients, advisers, staff and future generations to come.”

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