Financial services group TEAM has completed its acquisition of two businesses – Concentric Group and Omega Financial Services.
Both completions took place in the week of 1 August, following approval from the Jersey Financial Services Commission.
Concentric, a Jersey-based financial planning and investment consultancy business, delivers investment performance and analysis for high-net-worth individuals and institutional investors in Jersey and internationally. The acquisition was first announced in May.
Gordon Bennie, Managing Director of Concentric, said: “Delighted to have received the green light from the Jersey financial regulator. We had already started working together but can now truly market ourselves as an integrated business.”
Omega, a Jersey-based IFA, specialises in retirement planning, mortgage advice, life assurance and bespoke investment advisory services. The acquisition was first announced in December 2021.
Kevin Allenby, Managing Director of Omega, commented: “Since December we have been examining the ways we can take advantage of joining TEAM and, following the news this week, we can put those plans into motion. We are bringing our client base, but as of now we have hundreds more TEAM private clients, a large percentage of whom are based in Jersey, who may well choose to use our services.”
Mark Clubb, Chairman of TEAM (pictured), said: “We are delighted to move forward with two strong Jersey-based consultancies, both of which enhance the range and quality of services we offer our private clients.”
(Cover Image Source: Rock Staar)