The latest deal for an undisclosed sum sees Leeds-based Tenet acquiring Chiltern IFS in High Wycombe to help build Tenet’s hub in the South East of England.
The ex-principal, Phil Crouch, used Tenet’s practice buyout scheme to enable him to retire.
Chiltern IFS joins recent acquisitions of Chartwell Independent and Maguire Financial Limited, both completed in December, and the purchase in April of the assets of three Northampton advisers from Tenet’s advice business, Aspire Financial Management. All the advisers at Aspire were looking to retire.
Tenet is one of the UK’s largest adviser networks with both tied and directly-authorised advisers. It has acquired many IFA and Financial Planning firms over the past few years.
Tenet’s group operations director Helen Ball said: “Being a well-capitalised and resourced business means that we have been able to continue with our schedule of practice buyouts throughout the pandemic.
“This has also enabled us to offer some cashflow easement initiatives to member firms and fund a new Tenet Assistance Programme, in conjunction with Care first, in response to Covid-19.”