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Gloucestershire Business News

Cheltenham financial planners acquire London firm

Cheltenham headquartered Attivo Group has revealed its first acquisition since the business paused its £80m growth program due to coronavirus crisis.

In a statement published last week, Attivo said the clients of London-based IFA Paratus Financial Planning would migrate to its own financial planning arm, Attivo Financial Planning.

It was also said that Surrey-based IFA Sovereign Asset Management would continue to be a representative of Attivo Financial Services.

Back in April, it emerged that Attivo had paused six deals and deferred more than £80m in acquisition funding as a result of the coronavirus lockdown.

And just last week financial media publication FTAdviser revealed that Attivo had let go of several support staff, with the business confirming 14 staff had left the company.

However, last month chief executive Stephen Harper said the company's acquisition plans were now back on track, with deals lined up before Christmas and more scheduled next year.

The business said that redundancies at its Cheltenham office were the result of its technology review, which it claims will enhance the service provided to clients and cut costs from the business.

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