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UK financial planner snaps up IFA firm

Deal brings the company’s assets under management to over £600m

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Dorset-based Lewis & Co (Investments & Pensions), trading as Lewis Investment, has acquired Inspire Financial Services (IFS).

IFS has now been renamed Ingenuity Financial Services.

Although Ingenuity Financial Services will be part of the Lewis Group of businesses, it will operate under its own brand.

The acquisition of IFS does not affect the business or clients of Inspire Professional Services, which provides business and tax advisory services, as its ownership is unchanged.

The deal brings the Lewis Group to a total staff of 43 and assets under management over £600m ($815m, €666m).

Financial terms of the deal were not disclosed.

‘Fits perfectly’

IFS said it was a “difficult decision to sell”, but believed a sale would “provide improved services” to its client base,

Tim Lewis, Lewis Group managing director, said: “I am very proud to announce the acquisition of IFS which provides an opportunity to strengthen our existing group.

“This acquisition fits perfectly with our strategy to build a group of high-quality professional advisers increasing our innovation capabilities.”

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