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Cowgill Holloway expands Wealth Management business by acquiring Jacobs Financial Group Limited

Cowgill Holloway expands Wealth Management business by acquiring Jacobs Financial Group Limited
Bolton-based Chartered Accountants, Cowgill Holloway, has expanded its wealth management practice, via its wealth management arm, Regency House Wealth Management Limited. Regency House has completed the acquisition of Ilkley-based Jacobs Financial Group Limited (JFGL) for a total consideration which is expected to exceed £1million.  The deal has received FCA approval.
JFGL’s subsidiary, Jacobs Financial Limited, is a Chartered Financial Planner firm and IFA with in excess of £50million of client funds under advice.  Regency House will help JFGL grow its business by expanding wealth management and group risk client work.  Jacobs Financial will complement Cowgill Holloway’s existing wealth management and employee benefits business.
Chris Harrington, director of Regency House said:
“The acquisition is part of our strategy to expand and invest into our wealth management and employee benefits business, which continues to grow very successfully.  The combined group will hold in excess of £180 million funds under advice with fee income in excess of £2million and targeted to grow to £300 million and £3 million respectively by 2018.  It will advise in excess of 500 active private clients and over 100 businesses. 
Phil Jacobs, who co-owned JFGL with his wife and will remain as managing director says:
“I look forward to this next phase of our development and our team is excited to be joining forces with its counterpart at Cowgill Holloway.  This deal enables me to enjoy a capital event now whilst remaining very active in the business.  It secures the future of the business for its clients and key staff from our existing location”.
He continued:
“I am confident the integration to Regency House will be smooth as we have similar systems and a shared business philosophy”
Chris Harrington concluded:
The combined businesses will represent a significant force in financial services, business advisory and wealth management across the north of England.
Regency House were advised by Jon Davage at Bermans and JFGL by Susan Clark at LCF Law.
For further information please contact: Rob Lord, Cowgill Holloway LLP 01204 414243 rob.lord@cowgills.co.uk

Disclaimer

The information was correct at time of publishing but may now be out of date.

Wealth Management
Posted by Cowgills
3rd December, 2015
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