Kent-based Financial Planning firm GSI Group has made its first acquisition with a deal to buy a Hampshire adviser.

GSI will acquire Oakfield Financial Consultants for an undisclosed sum as part of its aim to reach £1bn in funds under management and advice.

Oakfield has offices in Hampshire and provides a range of services including Financial Planning and mortgages.

GSI was founded in the early 1980s and has 16 staff.  It specialises in personalised plans for savings and investments, estates and IHT planning, protection, pensions and retirement.

Paul Mitchell, group CEO at Westerham, Kent-based GSI, said the firm has an ambitious growth strategy.

GSI group directors said acquiring Oakfield Financial Consultants, from owner Barry Riglar, was a “perfect fit” and a step towards further growth in its asset management business.

Mark Buck, GSI business manager, said: “Continued growth through word of mouth about our services, trust, and loyalty and being recognised for excellence has meant we have been able to grow organically even in the face of adversity and the challenges that recent unprecedented times have brought.

“Working hard to maintain that growth and bringing a more strategic view for the future – just as we advise our clients to – has led us to realise the very encouraging potential for further expansion that we have. We have successfully raised capital and are delighted to have been able to smooth the way to support Barry, bringing Oakfield Financial Consultants to the GSI group family.”

Mr Riglar said: “After having met with the team at GSI, I was left with no doubt that we shared a similar company culture and set of principles, on top of that, there were no surprises, everything that was said, was done, it was an easy process and it simply all fell into place.”

GSI is targeting further acquisitions of small to mid-sized financial services companies around the M25.