This is the IFA division of the Merchant House Group and offers corporate and private clients advice on a range of products.
The company operated 15 offices around the UK, the majority of which were located in the South West, but had been struggling since 2010.
The sale of the intermediary was completed shortly after to Aspire Financial Management Limited, a subsidiary of the Tenet Group, saving all 13 jobs as well as continuity for some 70 IFAs.
The administration follows the liquidation of Merchant Capital, the structured products arm of the Group, last month.
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In November 2012, the Group was unable to raise sufficient funding to restore trading on the AIM market and its admission was cancelled.
The three joint administrators are Andrew Duncan, Alex Cadwallader and Michael Healy.
Andrew Duncan, director of Leonard Curtis Business Solutions, said: "We are delighted that Merchant House Financial Services has been sold as a going concern and that jobs have been preserved. All employees will be transferred to the purchaser and there will be continuity for the IFAs."
"We are now working closely with the directors of Merchant House and Tenet to ensure a smooth transition of the business."

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