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Fast-growing financial planning firm acquires Dorset IFA

Picture caption:

Sealing the deal:
David Vivian (left) of First Independents and Richard Thorpe, Director, The Legal Brokerage (right) with Princecroft Willis Director Bill Law.

A Dorset independent financial adviser (IFA) with more than 1,000 clients has been acquired by a fast-growing financial planning firm for an undisclosed sum.

First Independents, based in Corfe Mullen, is now part of The Legal Brokerage which has offices in Poole, Kent and Middlesex.

Former owner David Vivian, 66, who has been a financial adviser since 1987, is to stay on as a consultant.

Chartered accountants and business advisers Princecroft Willis (PcW) acted for Mr Vivian in the sale of his business.

The acquisition is the sixth in recent years by The Legal Brokerage which was launched in 1996 by David Wheildon and Richard Thorpe.

The firm employs 26 people and has 4,500 clients.

Apart from solicitors, The Legal Brokerage also works alongside accountants, stockbrokers and fund managers.

Mr Wheildon, Investment Director, said: "Although we continue to expand the integrity of the vendor is crucial when it comes to buying the goodwill of the business he, or she, has created.”

"David has built up an excellent business and we're very pleased not only to acquire his practice but also to retain his services as a consultant."

Mr Vivian said that it was talking to his accountant, PcW's Bill Law, about his retirement plans that helped him understand and appreciate the value of his business.

"The figure provided by Bill was virtually the same offered by The Legal Brokerage which made the whole sale process straight-forward and pain-free," added Mr Vivian.

PcW Partner Bill Law said: "David mentioned in passing that he was planning to retire. I asked if he was looking to sell and David said he wasn’t sure whether his business was worth anything.”

"I'm delighted we were able to demonstrate that it was and that David's business has been sold at a price agreeable to all parties."

Princecroft Willis has offices in Poole, Dorset and New Milton, Hampshire and offers a full range of accounting services from audit to taxation.


30 November 2015