Benchmark Capital (“Benchmark”), a leading provider of financial planning solutions and part of the Schroders Group, is today announcing it has completed the 100% acquisition of Advison and taken a 49% stake in chartered financial planning firm, Chartered Independent.
The businesses represent two very different journeys for the owners, demonstrating Benchmark’s flexible approach to supporting advisers on their individual business needs.
The 100% acquisition of Advison, based in Milton Keynes, will see the business owners transition into Benchmark’s growing financial planning business from where they will continue to service their existing clients.
Having built their business over a period of almost 20 years, Advison were looking for a trusted partner to provide a secure transition for both themselves and their clients. The owners have participated in Benchmark’s practice buy-out programme and will remain in the business.
Chartered Independent are an existing member of Benchmark’s advice network and have taken advantage of the growth of their financing offering. With Benchmark’s 49% stake, the business will remain independent, leveraging Benchmark’s capital and infrastructure support as they focus on continued growth.
The continued expansion of Benchmark’s business across the UK further highlights its focus on supporting high-quality financial planning firms, such as Advison and Chartered Independent, at every stage of their development and providing the resources necessary for their success. Both the acquisition of Advison and the investment in Chartered Independent represent the next stage in Benchmark’s strong pipeline of deals which are due to take place over the coming months.
Ed Dymott, Managing Director Wealth, Benchmark, said:
“We’re delighted to welcome Advison to Benchmark and to deepen our relationship with Chartered Independent as we continue to grow our presence around the country. These are two very different journeys for the business owners. Advison, which is joining our own financial planning firm and remaining in the business, whilst the owner of Chartered Independent, who was already familiar with Benchmark’s award-winning solutions as part of our network, were both looking for support to continue to grow. Our approach is resonating strongly in the market with advisers wherever they are on their journey; starting up, looking for efficiencies, growing, or building a secure pathway to exit."
Kevin Minter, Managing Director, Advison, said:
“Any adviser looking towards their own retirement planning will not be short of offers in the current market. Having built our business over 20 years, we really care about our clients and wanted to ensure a smooth transition, when the time was right. Finding a partner who felt the same was really important to us, and being able to continue looking after our clients by staying in Benchmark’s financial planning business, until we’re ready to move on, makes the transition for both us and our clients as smooth as possible."
Gavin Roberts, Owner, Chartered Independent, said:
“Our partnership with Benchmark is a compelling opportunity for us to further enhance our client proposition through the award-winning tools, knowledge and experience they provide. Their investment will enable our growth to accelerate further with the support of a company that truly has our values, and client outcomes, front of mind."