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FBC Manby Bowdler Advises on Expansion at Wolverhampton Financial Adviser- 24/05/2010
West Midlands law firm FBC Manby Bowdler LLP has advised a leading Wolverhampton independent financial adviser on an expansion programme involving the acquisition of three smaller rival businesses in the past three months.
FBC Manby Bowdler corporate partner Kam Johal advised Newell Palmer & Associates Limited (Newell Palmer) on all the legal aspects of the acquisitions of Wolverhampton-based Michael Coombs, Sutton Coldfield-based APD Financial and Stoke-on-Trent-based Cameron Financial Services.
Providing independent personal and corporate financial advice, Newell Palmer is one of the most successful and fastest growing financial services business in the UK with over 25,000 clients and 70 staff. Its group turnover exceeds £5 million and it has client funds invested in excess of £350 million.
In 2004 and 2005 Newell Palmer won the HM Revenue and Customs backed Inner City 100 award which commends the fastest growing inner city companies in the UK.
“These acquisitions will help us to provide a quality service to more people and companies across the UK at a time when the financial advice industry is changing fast,” said Philip Stepp, managing director of Newell Palmer.
According to Kam Johal, who is based in FBC Manby Bowdler’s Wolverhampton office, the acquisitions show that Newell Palmer is helping to lead the way in asector which is experiencing huge change in response to the recession and regulatory changes which take effect later this year.
She said: “With the Financial Services Authority imposing increasing regulation on independent financial advisers, with their expansion plans in place, well run and professionally managed advisers like Newell Palmer are well placed to exploit this market opportunity.”
With 39 partners, FBC Manby Bowdler is the fourth largest law firm in the West Midlands. The firm has offices in Wolverhampton, Willenhall, Telford, Shrewsbury and Bridgnorth.