National IFA LEBC has acquired 100% of the share capital of Bristol-based IFA Aspira for £5 million in cash and LEBC shares.

Aspira was established in 2003 and employs 50 staff with over 11,000 clients and nearly £500m in funds under management.

LEBC says that Aspira will be fully integrated into LEBC and the acquisition strengthens ‘substantially’ LEBC’s presence in the South West, adding further capacity that will increase turnover.

Derek Miles, Aspira’s chief executive will join LEBC as part of its senior management team.

Jack McVitie, chief executive of LEBC said: “We have known and admired Aspira for many years and this is a significant acquisition for LEBC as it strengthens us further through additional experienced personnel and geographic coverage. Aspira is a very good strategic fit and conducts its client relationships with the same integrity and commitment that we demand.

“I look forward to a successful integration and am delighted to finally have the opportunity to work with Derek Miles as a colleague and fellow shareholder.”

Derek Miles said: “I am delighted that Aspira will be joining Jack and the LEBC Group. As a business that has always focused on our clients and staff, finding a like minded business is never easy, but in LEBC we have found the perfect partner. I am very much looking forward to bringing the two businesses together and to joining the senior management team at LEBC.”

LEBC Group is a national IFA, pensions and employee benefits consultancy providing financial solutions for individuals and organisations. It has 16 branches around the UK.

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