Member Article

Moneygate celebrate takeover

Boldon-based financial services firm Moneygate have taken over IFA Results Financial.

The acquisition of the Sheffield-based advisory business, bought for an undisclosed sum, is in addition to another recent takeover for the company. Moneygate took over London-based IFA Equus Independent Financial Management last month.

Results Financial, founded in 1998 by current MD Mike Bell, has a turnover of £1.6 million and 16 advisers. Mr Bell, who will become a Moneygate Divisional Director, said:

“This represents a great move for us and will enable the company to quickly adopt a business model that will benefit everyone.”

The two recent acquisitions have increased Moneygate’s funds under influence by £250 million, and the firm now counts 120 advisors.

Moneygate Chief Executive Lee Hartley said: “We want to talk to quality firms of all sizes that are good businesses in their own right and who show clear potential to develop with our help.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .