International financial adviser hits £1bn milestone

International professional services firm Mazars is to add £300m in assets following the acquisition of RCL Consultancy from The Embark Group.

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The acquisition will result in the transfer of a portfolio of high net worth and affluent clients taking Mazars over £1bn ($1.34bn €1.14bn) in assets under management.

Mazars Financial Planning (MFP) provides financial planning advice and wealth management to individuals, business owner-managers and both private and charitable trustees.

It has a range of services from financial health checks to advice about investments, pensions, tax planning and employee benefits, as well as managing client funds on a discretionary basis.

Employee benefits deal

Mazars also announced it is to enter into a joint venture with The Embark Group, by combining their current activities in the UK Employee Benefits Consulting (EBC) sector into a single business.

As a result, Mazars Employee Benefits will be renamed Vested Employee Benefits, trading as Vested.

The newly combined business will be owned 51% by Embark and 49% by Mazars and will be consolidated into The Embark Group.

The deal, which is subject to FCA approval, was agreed for an undisclosed sum.

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