West Midlands law firm FBC Manby Bowdler has advised a Wolverhampton independent financial adviser on a continuing expansion programme involving the acquisition of 10 smaller rival businesses in the past 12 months.
Working with financial director Kevin Homfray, FBC Manby Bowdler corporate partner Kam Johal advised Newell Palmer group companies on the legal aspects of the acquisitions of three businesses based in Stafford, two based in Knowle in Solihull, two based in Stoke-on-Trent, one based in Cleobury Mortimer and two based in Bristol where Newell Palmer has established a new office.
Providing independent personal and corporate financial advice, Newell Palmer is one of the most successful and fastest growing financial services business in the UK. The acquisitions have increased staff numbers to more than 100 with a projected annual turnover of £8.5 million for 2013-14.
“Our acquisitions, with thanks to the support of AIB Bank (GB), now reach 28. “These allow us to provide a quality service to even more people and companies across the UK at a time when the financial advice industry continues to change fast. The enlarged group is performing well, as we increase profitability in challenging times,” said Philip Stepp, managing director of Newell Palmer.