Ruth Mitchell

Moneygate celebrate takeover

Boldon-based financial services firm Moneygate have taken over IFA Results Financial.

The acquisition of the Sheffield-based advisory business, bought for an undisclosed sum, is in addition to another recent takeover for the company. Moneygate took over London-based IFA Equus Independent Financial Management last month.

Results Financial, founded in 1998 by current MD Mike Bell, has a turnover of £1.6 million and 16 advisers. Mr Bell, who will become a Moneygate Divisional Director, said:

“This represents a great move for us and will enable the company to quickly adopt a business model that will benefit everyone.”

The two recent acquisitions have increased Moneygate’s funds under influence by £250 million, and the firm now counts 120 advisors.

Moneygate Chief Executive Lee Hartley said: “We want to talk to quality firms of all sizes that are good businesses in their own right and who show clear potential to develop with our help.”

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