1st
Partnership Program deal for the group
3
Acquisitions completed earlier in April
Hampshire
Offices in Fordingbridge continue
Retained.
Existing brand and employees stay in place
IFA consolidator Absolute Financial Group (“Absolute”) today announces that Hampshire-based St George's Financial Services Ltd is the latest IFA firm to join the group, further expanding its footprint in the South of England.
In a first “Partnership Program” acquisition deal for the group, Absolute has made an initial investment in St George's and agreed a buyout plan to purchase the remaining share capital in the future. This will enable the business to continue to grow and build an even stronger partnership between the two firms over an extended period of time, supported by Absolute and its central team. At the end of the partnership, Absolute will purchase the remaining share capital to provide a long-term exit for St George's.
A longer transition for firm owners
The “Partnership Program” deal structure is one of the routes for IFA firms to join Absolute as it builds its business with a longer transition process, along with its traditional acquisition route.
CONTINUITY FOR CLIENTS
St George's offices in Fordingbridge, Hampshire and its employees will continue under their existing brand, with support provided by Absolute.
A busy period of expansion
It is the latest deal for the group, following three acquisitions earlier in April with more expected over the coming weeks, as the organisation continues its focus on building a leading force in UK retail financial advice.
Absolute is uniting high-quality firms within a unified, well-resourced structure, promoting adviser support, holistic financial planning, outstanding client outcomes and enduring client value.
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“Joining Absolute Financial Group marks an exciting new chapter for St George's. It gives us greater scale and support based on shared values of what matters most: our advisers and clients. The deal structure allows us to continue to grow and benefit from this growth, as well as be part of Absolute's business.”
HOW THE PARTNERSHIP PROGRAM WORKS
Absolute makes an initial investment and agrees a buyout plan for the remaining share capital in the future, providing a long-term exit for owners who are not yet ready to sell.
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“We're excited that St George's Financial Services is joining Absolute, in our first Partnership Program acquisition. This structure allows us to build a long-term partnership with a high-quality, culturally aligned firm, while providing a long-term exit route.
“We think this is an exciting offering for firms who aren't quite ready to sell but are looking for greater support and a longer transition to exit. It continues a busy period of expansion, and we look forward to further strengthening our presence across England in the weeks ahead as we continue our drive to become a leading force in UK retail financial advice.”
