Private equity firm Epiris has completed the acquisition of James Hay and Saunderson House parent company IFG Group.

The FCA has given the green light to the private equity takeover of IFG Group, parent company to Financial Planner and wealth manager Saunderson House and SIPP and platform provider James Hay.

Private equity firm Epiris has made a recommended cash offer of £206m for IFG Group, owner of Sipp and platform provider James Hay and wealth manager and Financial Planner Saunderson House.

James Hay has blamed volatility and platform market performance after it suffered a client win dip of more than 14%.