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Westerham-based financial planning company buys first firm

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South East financial planning firm GSI Group has bought its first business, as part of its plans to grow to a portfolio valued at £1billion within five years.

Oakfield Financial Consultants, the company acquired by GSI Group, is based in Hampshire and offers a wide range of financial support and advice services, including comprehensive financial planning and mortgages.

GSI Group directors said buying the business from owner Barry Riglar was a perfect choice and a fitting first step in his vision for future growth, in addition to developing an asset management business .

The article continues after the announcement

Riglar said: “After meeting the GSI team, I had no doubt that we shared a similar corporate culture and set of principles, on top of that there were no surprises. , everything said was done, it was an easy process and everything just fell into place.

GSI Group, based in Westerham, was founded in the early 1980s and specializes in creating personalized plans for savings and investments, estates and IHT planning, protection, pensions and retirement.

Paul Mitchell, the group’s chief executive, said he was aiming for £1billion after setting out “an ambitious growth strategy”.

Mark Buck, Chief Commercial Officer at GSI Group, said: “Continued growth by word of mouth about our services, trust and loyalty in what we offer and recognition of our excellence has allowed us to grow organically. even in the face of adversity. and the challenges that recent unprecedented times have brought.

“Working hard to sustain this growth and provide a more strategic view for the future – just as we advise our clients – has led us to realize the very encouraging potential for future expansion that we have.”

He added: “We were successful in raising capital and are delighted to have been able to facilitate the process to support Barry, bringing Oakfield Financial Consultants into the GSI Group family.”

The firm, which has a total of 16 employees, said it was keen to hear from small and medium-sized financial services companies based around the M25.

The group is interested in exploring potential acquisitions in this region, as part of its immediate and ongoing expansion plans.

Buck added: “These are exciting times not only for us, but also for those in our industry who have founded and built successful financial and wealth management companies and who are looking for a way out when the time comes while ensuring a smooth and confident transition, with maximum peace of mind for their many loyal customers. »

“We would ask them to contact us to discuss mutually beneficial opportunities informally and in strict confidentiality.”

sonia.rach@ft.com

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