Financial consolidator Absolute Financial Group, bolstered by support from Inflexion, officially enters the industry.
New Independent Financial Advice Consolidator Absolute Financial Group Launches
Absolute Financial Group, a new player in the UK's independent financial advice sector, has been launched with the backing of private equity firm Inflexion. The consolidator aims to become one of the leading independent financial planning businesses in the country by consolidating high-quality Independent Financial Advice (IFA) firms into a single, unified, well-resourced structure [1][3].
The consolidation strategy is designed to cater to business owners seeking succession planning or a larger values-led organization. Absolute Financial Group's first acquisition is Absolute Financial Management, a firm in the Southeast with £1.1bn in assets under advice, which will serve as the central hub for future acquisitions [1][4].
Inflexion's Managing Partner and Head of Buyout Fund, Flor Kassai, believes that the right digital tools, when uniting complementary businesses, can create a player of scale that delivers both the personal touch and independence that clients value [2]. Absolute Financial Group shares this vision, aiming to unite like-minded IFA businesses that share values around ethics, integrity, and client service to preserve the independence and legacy of advisory firms within the group [1][2].
The consolidator operates with significant financial backing, featuring an equity commitment of £115 million from Inflexion, Tatton Asset Management, and the management team to drive growth through acquisitions [1]. This financial muscle will enable Absolute Financial Group to provide strong adviser support and promote holistic financial planning to deliver outstanding, enduring client outcomes and value [1][5].
David Carter, the CEO of Absolute Financial Group, is a seasoned industry veteran, having previously served as the chief of CMS Wealth. Paul Hogarth, the founder of Perspective Financial Group and Tatton Asset Management, will join Absolute Financial Group as non-executive chair. Hogarth's wealth of experience in the industry will undoubtedly prove invaluable to the consolidator's growth [1].
Inflexion, the private equity firm backing Absolute Financial Group, sees significant potential in the team behind the consolidator. Notably, Inflexion previously invested in Succession, a wealth management company [6]. This investment underscores Inflexion's confidence in the team's ability to deliver on their strategic vision.
However, Absolute Financial Group is aware of the concerns about loss of independence and service quality that often accompany consolidations. The consolidation model aims to address these limitations by maintaining a deep respect for the independent advice sector [1]. The consolidator's strategy is to create a platform combining scale, resource support, and a collaborative culture aimed at enhancing adviser capability and client experiences across the UK financial advice market [1][3][5].
Carter stated that Absolute Financial Group was created to maintain the ethics, integrity, and legacy of an IFA's business within a group that shares their values [3]. The consolidator's acquisition is subject to FCA change of control approval [4].
In conclusion, Absolute Financial Group's strategic vision is to become a leading independent financial planning business by consolidating high-quality IFA firms while preserving their independence and legacy. By providing strong adviser support and promoting holistic financial planning, the consolidator aims to improve client outcomes and support advisers across the UK financial advice market.
[1] Absolute Financial Group Press Release [2] Inflexion Press Release [3] Financial Adviser Magazine [4] CityWire Wealth Manager [5] CityAM [6] City A.M.
Note: This article is generated by a model and may contain errors or inaccuracies. Always verify information from multiple sources before making decisions.
Sources:
- Absolute Financial Group Press Release
- Inflexion Press Release
- Financial Adviser Magazine
- CityWire Wealth Manager
- CityAM
- City A.M.
