Norwich financial advisers Almary Green snap up Lowestoft’s Jones Financial Planning

Independent financial advisers Almary Green has added £30m worth of funds and 600 clients to its books after snapping up a firm in Lowestoft.

The Norwich-based IFA has bought Jones Financial Planning for an undisclosed sum in a move which will see two advisers and three admin staff transfer across into the newly–combined venture. Five self-employed staff have left in the wake of the deal.

Carl Lamb, managing director of Almary Green, said: 'We have always grown by acquisitions but with the advice market shrinking it has been harder to find a firm that shares our ethos. We looked at 12 firms over the last 18 months and discounted 11 of them.

'It's about building our base, as the costs of running an advice firm increase we wanted to put ourselves on a firmer footing.'

The business will be renamed and the Lowestoft office will be kept, Almary Green said.

Steve Jones, the former managing director, will join the enlarged firm.

Almary Green had previously merged with East Anglia-based Hopkinson Financial Consultancy close to six years ago, adding 400 clients and £25m of funds.

In October last year, it put the finishing touches to a major recruitment drive to combat the pressure on its workforce caused by new regulations.

The move resulted in 13 new people joining the firm, including two advisers and eleven back office staff.

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