Edgewater announces significant acquisition
The Island’s leading independent financial advice (IFA) business, Edgewater Associates Limited, a wholly-owned subsidiary of the AIM-listed company Manx Financial Group PLC (www.mfg.im), has entered into an agreement today with Knox Financial Services Limited to acquire its Isle of Man IFA business. The acquisition will include approximately 4,000 clients, together with six employees.
Managing Director of Edgewater Associates Limited, Sandra Cardwell, commented:
“At Edgewater, we pride ourselves in offering the highest level of customer service to our clients. As a business, we have over twenty years’ experience of helping clients to shape their financial future. With the strength of our parent company and alongside our sister company, Conister Bank Limited, we are perfectly placed to provide a secure and holistic approach to meet the financial needs of all clients of MBL & MBL Financial. We look forward to welcoming our new clients and colleagues to our state-of-the-art offices in Clarendon House.”
Douglas Grant, Group Finance Director of Manx Financial Group PLC, added:
“This acquisition is part of our stated business strategy for Edgewater of combining organic growth with acquiring established businesses to augment our portfolio of clients. Over the coming years, we will continue to be selective in our acquisitions to maintain synergy with our existing client base.