TEAM plc, the financial services group, has completed the acquisitions of both Concentric Group Limited and Omega Financial Services Limited within one week.
On Monday 1st August, completion of the Omega acquisition and on Monday 8th August, completion of the Concentric transaction following approval for both from the Jersey Financial Services Commission.
Concentric is a Jersey based financial planning and investment consultancy business, delivering investment performance and analysis for high-net worth individuals and institutional investors both in Jersey, and internationally. The acquisition was first announced in May 2022.
Commenting on the completion, 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 we now can truly market ourselves as an integrated business with, I believe, as a result of acquisition, one of the best private client advisory teams in Jersey.”
Omega is a Jersey-based IFA, specialising 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: “Since December we have been examining the ways we can take advantage of joining TEAM and following the news this week, we can now 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.”
Commenting of the completions, Mark Clubb (pictured), Chairman of TEAM, said: “This has been a good week for TEAM. We have waiting for the approvals to come through and like buses they come together. We are delighted to move forward with two strong Jersey based consultancies both of which significantly enhance the range and quality of services we offer our valued private clients.”
