Adviser network Validpath has added £300m AUM Devon-based adviser Manning & Company to its network and IFA community.
As part of the deal ValidPath owner Rimbal has provided capital to Manning to support its long-term growth strategy.
Manning & Company was founded in 1988 and now services more than 1,000 clients across the UK from its Ivybridge base.
The business is led by managing director Paul Northmore who joined the firm from school in 1994 and over the past three decades has helped to build the business, alongside long-standing directors Patrick Goddard, Mike LeGassick and Lisa Burton.
They said the transition to ValidPath marks the next chapter in the company’s growth journey as it builds on its proven client proposition through access to additional infrastructure, capital and resources.
Mr Northmore said: “As a leadership team, we reached a point where we knew we had strong foundations and a clear opportunity to grow further, but we also recognised we needed the infrastructure, expertise and support to help us take the business to the next level. Working with ValidPath provides us this support and an ability to access additional capital for growth.”
Mr LeGassick said: “Technology should enhance relationships, not replace them. If we can reduce administrative burden and create more time for meaningful client conversations, that’s a positive outcome for both advisers and clients.”
ValidPath is an FCA-regulated IFA Network with more than 20 years’ experience supporting IFAs. Based in Cardiff it was set up as an FCA-registered IFA network in 2002. It serves a network of more than 100 financial advisory businesses and independent financial advisers, mortgage brokers and support personnel and their clients across the UK.
It is part of Rimbal, a financial services and technology group that builds infrastructure to power independent financial advice. It says more than 300 businesses run on its systems.