Absolute Financial Group acquires Manchester-based IFA firm

Absolute Financial Group has acquired Platinum Independent Financial Services, adding £280m in assets under advice (AUA) to the group.

The firms’ management teams have a long-standing relationship, with the acquisition marking Absolute’s continued expansion in the north west of England following four acquisitions in the region in May.

Absolute’s acquisition of Platinum, which is based in Sale, Greater Manchester, brings the group’s AUA up to £2.68bn.

Platinum’s existing office and 15 staff will remain with the business, which will continue to operate under the Platinum brand for a “short period of transition” to support client integration and continuity.

The IFA firm is the 15th to join Absolute since the consolidator was formed in December last year.

Absolute said it remained focused on combining scale, support, and a respect for what makes independent advice essential.

“We are excited to welcome Platinum Independent Financial Services to the group, a high-quality business well known to management and built on trusted, long-term relationships,” said Absolute Financial Group CEO, David Carter.

“Platinum is an exceptional advisory firm that perfectly aligns with our vision of combining operational scale with deep respect for independent local advice.

“Reflecting the strength of our proposition, we are seeing a robust pipeline of high-calibre firms actively seeking conversations with us as their partner of choice.”

Platinum Independent Financial Services director, Martin Hood, added: “Joining Absolute Financial Group secures the long-term future of our firm while fully preserving the continuity and independent care our clients value.

“We have worked with the management team of Absolute for many years, and we know that Absolute’s values are well aligned with ours.

“Partnering with a well-resourced national consolidator gives our 15-strong team the robust back-office and compliance support needed to thrive in today’s market. It allows us to focus entirely on driving exceptional client outcomes.”

---