Cowgill Holloway grows wealth management business with latest acquisition

The wealth management arm of Cowgill Holloway, the accountancy firm based in Bolton, has expanded with the acquisition of Jacobs Financial Group Limited (JFGL).

Cowgill Holloway’s Regency House Wealth Management Limited acquired the Ilkley-based firm in an FCA-approved transaction expected to exceed £1m.

Regency House director Chris Harrington said: “The acquisition is part of our strategy to expand and invest into our wealth management and employee benefits business, which continues to grow very successfully.

“The combined group will hold in excess of £180m funds under advice with fee income in excess of £2m and targeted to grow to £300m and £3m respectively by 2018.”

He added: “It will advise in excess of 500 active private clients and over 100 businesses.”

Jacobs Financial Limited, a subsidiary of JFGL, is a chartered financial planning firm with over £50m in client funds under advice. The deal will see Regency House help JFGL achieve growth by expanding its wealth management and group risk client work.

JFGL’s Phil Jacobs, who co-owned the firm with his wife, will take on the role of managing director.

He commented: “I look forward to this next phase of our development and our team is excited to be joining forces with its counterpart at Cowgill Holloway.

“This deal enables me to enjoy a capital event now whilst remaining very active in the business. It secures the future of the business for its clients and key staff from our existing location.”

Phil continued: “I am confident the integration to Regency House will be smooth as we have similar systems and a shared business philosophy.”

Regency House was advised by Jon Davage of commercial law firm Bermans, while JFGL was advised by Susan Clark at Yorkshire business LCF Law.

Speaking further, Regency House director Chris said: “The combined businesses will represent a significant force in financial services, business advisory and wealth management across the north of England.”

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