Svensoni Paraplanning Ltd today announces the acquisition for an undisclosed sum the business of competitor paraplanning firm, Paracor.
As a result of the acquisition, Paracor’s principle, Andrew Ransley, will become head of Wealth Management Support (the High Net Worth & Ultra High Net Worth wing of Svensoni), and will also join the board of Svensoni’s soon to be launched Compliance Services vehicle as technical services director.
Tony Stevens, Svensoni’s CEO said: “I am delighted to continue our aggressive growth strategy with the acquisition of such a high quality business and its strong client base, and am particularly pleased to welcome Andrew, whom I have known for some years on board. Andrew’s many years of experience assisting HNW and UHNW advisers will add additional strength to our offering to this segment of the advisory community, and his insights will be equally invaluable as we prepare to launch our compliance services offering later this year.”
From Svensoni’s early operations when it launched back in 2010, it has grown to become a leading firm within the industry and notably one of the largest outsourced paraplanning providers in the country.
The company, which has its head office in Swindon, stands at 32 paraplanners and is growing fast, with firm plans already in place to increase this headcount in the coming months to facilitate the increase in client base and case volume that is already apparent. Svensoni also has an office in Ascot, where its administration support team operates from.
When asked “what makes Svensoni different” CEO, Stevens replied: “Our focus is always on quality, quality, and quality. Our objective is to achieve first time approvals for our clients, and with 97% of our cases passing compliance first time we believe we are doing this. When you consider that we process thousands of cases per year we are pretty pleased with this. The majority of our work is fixed fee, so advisers always know in advance what a case will cost them, and we do not tie them in with contracts or operate with retainers”.
Svensoni are planning further acquisitions already in order to keep up with their ambitious growth plans.
To find out more about Svensoni visit: www.svensoni.co.uk