Beaufort Financial (Liverpool) will be led by veteran advisers Edward Cullen and Steve Lavelle, who have 55 years’ experience in the financial services sector.
They plan to offer a Financial Planning service through Beaufort Financial (Liverpool).
Mr Cullen began his working life with Pearl Assurance before moving to banking and most recently running his own IFA firm, where he worked with Mr Lavelle who also has a banking background before becoming an IFA.
As part of the deal, 140 private and corporate clients will transfer to the new firm, which has around £50m of assets under management and is based at St Paul’s Square, Liverpool. It also plans to appoint two more advisers.
Mr Cullen said: “We aim to offer a comprehensive range of Financial Planning services and to advise existing and future clients through four distinct phases of life – the creation of wealth, its maintenance, growth and finally protection. Our approach is to build bespoke solutions for each individual client.
“We are delighted to join a well-established, slick operation which provides all the back office and support services an IFA business needs. We wanted to partner with someone whose ethos mirrors our own.”
Beaufort Financials’ chief executive Derrick Dunne added: "We are very pleased that Ed and Steve have joined us and we look forward to helping them develop their business over the coming years. Opening an office in Liverpool is an important development for the Beaufort Financial Partnership.”
The Beaufort Group of Companies was established in 2012. It has headquarters in Surrey and offices throughout the UK. The group offers financial advice through Beaufort Financial, a nationwide partnership of whole of market IFAs.
The group also owns a discretionary fund management company, Beaufort Investment Management, which has over £1bn in funds under management on behalf of private clients, trusts, charities and corporate bodies. Around 100 people work across the business including 60 registered individuals and 19 partner firms advising over 12,000 clients.