This is the first of what is likely to be a series of equity investments in IFA firms associated with the Tenet group. Tenet’s investment programme will be aimed at supporting fast growing and ambitious businesses.
Tenet believes investment is needed in both monetary and manpower terms to help IFA firms increase their efficiency, meet the challenges brought by regulation and cope with the ever increasing demands on IFAs’ time. The group’s investment programme will help its members and clients make quantum leaps forward in the way they run their business, and it dovetails with its more general initiatives regarding the financing and productivity of network members.
Peter Lane, group commercial director at Tenet, commented: “Ayrshire Financial Services was an attractive opportunity for us because it is a dynamic, forward-thinking practice which welcomes change. The directors, Alex Bruce and Gary McCleary, have created a very focused and committed culture with their advisers which has been the foundation of their success so far.”
