Life assurance adviser Hill Oldridge has merged with specialist advisory firm John Lamb Financial Solutions to create a UK-based protection assurance advice company.
John Lamb Hill Oldridge will utilise both firms’ advisory life practice and landed estates businesses, as well as John Lamb Financial Solutions’ equity release operation.
The merger will introduce new clients and intermediary connections and will enable a broader service offering spanning UK and international capabilities.
Founded in 1992, Hill Oldridge acts for more than 150 of the UK’s biggest landed estates and their associated families, sourcing and managing life assurance placements as part of estate planning arrangements.
John Lamb, established in 1959, offers wealth solutions for individuals and businesses ensuring they are able to manage their risks and optimise their asset portfolios.
Management team
The management structure of John Lamb Hill Oldridge will combine a mix of professionals for both firms.
David Pollock, who joined Hill Oldridge in 2007, will become chairman of the enlarged business.
Alex Gibson-Watt will be managing director and Paula Steele will take over as the firm’s broking director.
Steele said: “Landed estates in this country face significant financial pressures and without proper planning their viability and the jobs they create are at risk.
“With the right advice estates should avoid unnecessarily either having to be sold in their entirety or large portions of land being sold off to pay tax liabilities.”
Fairstone
Elsewhere in the sector, UK financial planning firm Fairstone has acquired Berkshire-based Chiltern House for an undisclosed fee.
It was completed via the group’s downstream buy out (DBO) scheme.
The acquisition brings an additional 500 clients into the group together with Chiltern’s four advisers and seven support staff.
The deal also secures gross fee income of £2.6m ($3.41m, €2.88m) for Fairstone together with funds under management of almost £400m.
DBO scheme
Fairstone has gained almost £1.2bn in funds under management through the scheme in 2020.
The programme continues to be a core driver of growth for the business, reversing the traditional buy and build approach, with consolidation playing a key role in a firm joining the programme.
The scheme integrates advice businesses into the group within a two-year period.
Lee Hartley, chief executive of Fairstone, said: “We are always looking for strong, high quality businesses with ambitious growth plans to join Fairstone and whilst we recognise that we are all moving into a different climate with challenges ahead, we are in a strong position and we will continue to onboard new DBO firms at our forecasted volume.”
Most recently, Fairstone signed up advice company Mantle Financial Planning to its DBO programme.
