The deal, for an undisclosed sum, is expected to be completed by May and Punter Southall says it hopes it will be the first of many acquisitions of IFA firm as it plans the expansion of its retail advisory arm.
Punter Southall says the expansion will also support the development of its new investment administration platform myAspire.
Focus Oxford is based in Oxford and was set up in 1990 by three friends. It now has a team of more than 20 partners and staff providing Financial Planning and wealth management and mortgage advice.
Punter Southall Aspire is a UK workplace pensions and savings business. It works with over 800 employers and about 1,250 schemes. It has assets under management of Ј3.5 billion and 81 employees.
Punter Southall Aspire said the deal will enable Punter Southall Aspire to offer an ‘integrated financial advice service’ for employers and individuals focusing on pensions, pension master trusts, mortgages, ISAs and general investment and wealth management.
Steve Butler, chief executive, Punter Southall Aspire said: “Focus Oxford LLP is a well-run and established business with high quality financial advisers who share our values and vision for making savings and investments less complex and more accessible for everyone.
“This purchase is key to our business strategy. We plan to grow our retail advice business significantly in the next few years and hope this will be the first of several acquisitions of IFAs. It will enable us to build assets on our investment platform and provide our clients with first class financial and investment solutions that will support their retirement planning.”
Gary Hunt, founding partner at Focus Oxford said, “We are looking forward to becoming part of Punter Southall Aspire. The company’s growth has been rapid and impressive. We share the same ambitions.”