One Four Nine Group launches with two acquisitions

The new firm launched with the acquisition of two financial advice firms: Charter Financial Planning and Rice Whatmough Crozier, bringing 7 advisers and over £300m in assets under management to the group.

One Four Nine’s proposition is led by chief investment officer, Bevan Blair, who was Tilney’s director of strategic asset allocation until October 2019. Matthew Bugden, previously director at Ingenious Media, is CEO and Gabrielle Beaumont was named managing director. She was previously a senior investment director at Ingenious group.

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Shaun O’Leary as chief risk officer and finance director Steve Cohen are also part of One Four Nine Group’s leadership team.

One Four Nine will primarily target accountancy firms and other professional services firms which own or have a joint venture with financial advice firms.

The inaugural acquisitions are the first step in an ambitious growth plan, which will be backed by “significant capital” from private equity firm Copper Street Capital.

CEO Matthew Bugden said:”We are delighted to welcome the teams from Charter Financial Planning and Rice Whatmough Crozier to the One Four Nine Group.  Both firms are successful businesses with highly skilled advisers; we look forward to working with them and enabling them to spend more time with their clients.”

Charter Financial Planning has a 40-year history offering a suite of financial planning services to clients in Preston and the North-West area. The business has three experienced advisers and eight support staff with over £100m in assets under management.

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Rice Whatmough Crozier, the investment and pensions advisory firm based in Middleton, Greater Manchester, was established in 2010 following a management buyout from the professional services firm Deloitte. With four senior advisers and seven support staff the business manages over £200m in assets under management.

Collectively, Charter Financial Planning and Rice Whatmough Crozier service over 700 clients. 

The firm will offer a central investment proposition to advisers and their clients as they join. It claims to offer “extremely competitively priced active, passive and sustainable model portfolio solutions for clients.” 

Bugden added: “We are keenly aware of the challenges facing advisers today in a market that has become increasingly fragmented. With regulatory and administrative burdens progressively taking up ever greater resources, One Four Nine Group offers quality advisory firms the opportunity to have access to a central investment proposition whether it be a bespoke discretionary solution, model portfolios or tax efficient alternative investments along with extensive support to reduce the administrative and regulatory burden on advisers. 

“Our management team have collectively spent decades building extensive relationships within the adviser industry, giving us a unique insight into the firms we are looking to connect with.

“As 15% of advisers are expecting to sell in the next 5 years, we have a strong pipeline of exceptional advisory firms across the UK and have built an entrepreneurial business with a dynamic and collegiate culture which will make us the natural partner of choice for quality advisory firms. We are already speaking with other adviser firms and expect to make further acquisitions soon.”

One Four Nine Portfolio Management is regulated and authorised by the FCA and is already managing client assets. 

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