Andy Bell, chief executive of AJ Bell
Sipp provider AJ Bell has acquired financial magazine publisher MSM Media for an undisclosed sum.
London-based MSM Media produces weekly Shares magazine as well as various online services such as MoneyAM and StockMarketWire.
It will continue to be run by its existing senior management, led by chief executive David Motum, but AJ Bell Securities chief executive Charles Galbraith will join the board as a non-executive chairman. MSM will run as a separate buisiness and retain full editorial independence.
David Motum, chief executive of MSM, said: "Content is becoming a key differentiator for investment platforms and our ability to generate specialist financial content will help complement AJ Bell's proposition in the platform space."
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Mr Galbraith said AJ Bell was looking forward to helping the company "flourish and grow" in the future.
AJ Bell has only made one previous acquisition which was a firm called Lawshare in December 2007. This firm, now known as AJ Bell Securities, has since grown from 23 staff to nearly 100.
AJ Bell has over £17bn in assets under administration and 70,000 retail clients. It operates three platform brands, a bespoke Sipp and Ssas service, an institutional stockbroking service and Sipp white label service for other financial services companies.
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