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27 September, 2011 - 21:50 By News Desk

SGWM acquires Stan Gaskin share capital

(left to right) Stephen Girling, Henry Gaskin, Stan Gaskin, Neil Shillito.

SG Wealth Management (SGWM) in Norwich is hungry for acquisitions in the financial sector after buying the entire share capital of Ipswich-based financial adviser Stan Gaskin Ltd.

 

The merger brings together two of the East of England’s leading independent financial management companies.

As a result of the takeover, SGWM will be managing client assets in excess of £200 million and will be adding to its combined workforce of 21, in Norwich and Ipswich to cope with the demands of the growing business.

SGWM serves individuals and organisations throughout Norfolk, East Anglia and the south-east. The company was founded in 2001 by Neil Shillito and Stephen Girling and was the first UK financial services company to offer financial planning and discretionary fund management services exclusively on a non-commission, fee basis.

Stan Gaskin celebrated his 65th birthday recently and wanted to retire after many years in financial services. Over the course of the last 18 months or so, Stan Gaskin Ltd has been exploring available options allowing the company to continue to provide the service and advice to which its clients have become accustomed.

Founder Stan Gaskin said: “I am delighted that the company will now be part of SG Wealth Management. I have known their directors Neil Shillito and Stephen Girling for many years and the take-over is good news for our customers. SGWM is an expanding company with a depth of expertise in the financial services sector which will bring great benefits to our clients.

Gaskin added: “My son Henry will manage the Ipswich operation within the SGWM umbrella. We will continue to operate under the Stan Gaskin Ltd name but will now be able to offer a broader range of services to our clients.”

Gaskin will continue working in a consultancy role to ensure a smooth transition.

There will be no redundancies at the Ipswich office of Stan Gaskin Ltd. The business, based in Soane Street, was founded in Ipswich in 2000. The company employs eight people. SGWM is taking on new staff to cope with the demands of its growing business.

SGWM Director Neil Shillito said: “The world of retail financial services is changing dramatically. The abolition of commission-based payment advice means that from January 2013 financial advisors will have to agree remuneration with their clients – a more transparent way of operating.

In the last financial year, SGWM had a turnover of £1.3m. SGWM says it is looking to make further acquisitions in the financial sector.

• PHOTOGRAPH SHOWS: (left to right) Stephen Girling, Henry Gaskin, Stan Gaskin, Neil Shillito.

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