The Money Group (TMG) has confirmed that it is looking to provide exit plans for retiring advisers by acquiring their businesses as part of their ongoing expansion plans.
TMG said it will be looking to acquire a number of different types of regulated businesses, including those owned by sole traders, who may be looking to exit the industry within the next two to three years.
Scott Thorpe (pictured), co-founder of TMG said: “We all know how we entered the market but no one seems to know how they will exit it.
The Money Group offers free to access mortgage support for those on furlough
“This is acutely problematic for sole traders and, in particular, those that are Directly Authorised. The acquiring of brokers will be just one aspect of how we see the future for TMG and our partners.
“Yet again we have witnessed how seismic events can impact our industry. We believe it is time for brokers to once again realise how valuable they are, what they have to do to harness that value and then how best to work to release that value for themselves and their families in the future.”
The Money group currently has 15 brands across the country with an adviser headcount of over 50. The Group is working on doubling the number of brands and advisers during 2021.
Martin Stewart, co-founder of TMG, added: “We decided to use the lockdown period well and totally revamped our road map.
“We see adversity and recession as the best to kick on with growth plans and we soon hope to have a concept that could revolutionise the way brokers work to create capital value.
“For the right-minded people out there now is the time to stop looking down at their admin and start looking up at their future”