Radiant Financial Group enters Scottish market with acquisition of two firms of IFAs
Radiant Financial Group, the consolidator of IFA firms, has entered the Scottish market after acquiring two independent financial adviser businesses, adding over GBP300 million to the group’s assets under advisement (AUA) which is now in excess of GBP1 billion.
Radiant has acquired Perth-based IFA, GS Financial Services, which has GBP157 million in AUA, as well as 13 members of staff, including six advisers. The group has also acquired Aberdeen-based AMLP Financial Planning, which has GBP156 million in AUA and six members of staff, including two advisers.
The latest deals take Radiant’s staff numbers to 110. Established in 2020, Radiant says that it differs from other consolidators in that it wants to brings together like-minded IFAs firms that are committed to being client-centric.
Radiant writes that it is particularly interested in working with business owners who have reached a stage in their development where they need more help with their back-office functions so that they focus on their clients or on continuing their growth.
The firm is led by CEO Simon Cogman-Hellier, who has more than 40 years’ experience in financial services. He was previously interim Managing Director of Bluefin Personal Consulting, formerly part of AXA. He was also Managing Director of IFA Oval Financial Services between 1993 and 2007, before its sale to Gallagher.
Angus Mackintosh, Director of AMLP Financial Planning, says: “When we were looking to sell our business, the decision of who to work with for the future ended up being straightforward - Radiant Financial Planning were the clear best choice.
“Their focus on client service and great client outcomes, combined with understanding that our staff are the heart of the business, made the decision an easy one.”
George Stubbs, Managing Director of GS Financial Services, adds: “When choosing the home for the future of our business, in particular for clients and staff, it was essential that the acquirer's values were aligned to ours.
“I am pleased to say that as well as making the sale happen as seamlessly as possible, it was equally as important to Simon and his team at Radiant that the aspirations for the future of the business and the people were fulfilled.”
Simon Cogman-Hellier says: “We’re extremely happy that GS Financial Services and AMLP have chosen to partner with us. We believe they are an excellent fit in helping us provide client-centric advice and exceptional delivery as we look to expand across Scotland.”
“When IFAs are considering a new home for their business, we know it’s crucial that our values are in line with theirs. We also know it is vital that the staff in the business joining us are given the opportunity to thrive and grow within our group.”
“Radiant is not a typical consolidator. We don’t acquire businesses simply for the assets they advise on. The scale of funds under management is not a key factor for us when looking to partner with a business – much more important is the cultural fit. For us the post deal integration, making sure our new colleagues really thrive, is as important as the deal itself.”
“Radiant is run by a team of highly experienced industry leaders, who are passionate about providing truly impartial advice across all areas of financial planning. We see our staff and our clients as absolutely critical to what we do, their interests guide our decision making.”