The Penny Group acquires Roberts Financial Consultancy Ltd.
The Penny Group continues to expand with the addition of Roberts Financial Consultancy Limited.
The Penny Group is pleased to announce that it has completed its acquisition of Roberts Financial Consultancy (RFC) Ltd. RFC, which is headed up by Chartered Financial Planner, Barrie Roberts. RFC has been providing advice to high-net-worth clients across the Midlands for over 25 years. Roberts and the RFC team will continue to trade under their current brand from their existing Sutton Coldfield office. RFC will gain access to tPG’s broader infrastructure and support as one of the largest firms in the Openwork partnership, allowing RFC to further cement and develop its Financial Advice proposition.
This acquisition is part of The Penny Group’s broader “buy and build” strategy, collaborating with practice owners within the Openwork Partnership early in their succession planning journey to ensure there is a structured integration over an extended period of time. Roberts plans to remain active in the business for a number of years to ensure a seamless transition for clients and staff.
The latest acquisition cements tPG’s position as the largest Wealth Manager in the Openwork Partnership with assets under management (AUM) on target to exceed £1bn during 2024. This size and scale allows tPG to continue to invest and grow its proposition, making it attractive to both clients and prospective practice owners considering their succession strategies.
Barrie Roberts, owner of RFC said: “I have known The Penny Group Directors for a number of years and been impressed with their client focus together with their strong track record of integrating other Openwork businesses. This change of ownership provides Roberts Financial Consultancy Limited and its clients a high degree of continuity as well as a platform to further develop our proposition and service model.
The Penny Group is a Chartered firm and their recent 6th successive annual appearance in the New Model Adviser Top 100 advice firms in the UK demonstrates the quality of the organisation we have chosen to partner with. As a Chartered Financial Planner, I recognise the importance of providing clients with excellent advice and service, so we are excited to be joining a group which has similar client centric values as ours.”
Graeme Morrissey, Partner at the Penny Group commented “This is an exciting time to be working in and growing a Financial Advice business and The Penny Group are well positioned for this. We are therefore very pleased that Barrie and his team have chosen to partner with us and are entrusting The Penny Group with the future of Roberts Financial Consultancy Limited. Barrie has a loyal and long-standing client base and we look forward to welcoming them into the wider Penny Group family. This latest acquisition is another example of how well organised succession planning should be and we look forward to working with Barrie and his team to support and develop his client relationships.”