Tenet completes fourth asset purchase during lockdown

Jessica Bird

May 11, 2020

asset purchase

Financial adviser Tenet has acquired the assets of advisory firm Chiltern IFS, the fourth asset purchase it has completed during the lockdown. 

In April, Tenet purchased the assets of three Northampton-based advisers from Aspire Financial management, who were all looking to retire.

The purchase of Chiltern IFS also follows that of Chartwell Independent and Maguire Financial Limited, both completed in December.

This most recent asset purchase is part of Tenet’s approach to building on its established hub in the South East.

Chiltern IFS’ ex-principal, Phul Crouch, utilised Tenet’s practice buyout scheme to enable him to retire.

Helen Ball, Tenet’s group operations director, said: “Being a well-capitalised and resourced business means that we have been able to continue with our schedule of practice buyouts throughout the pandemic.

“This has also enabled us to offer some cashflow easement initiatives to member firms and fund a new Tenet Assistance Programme, in conjunction with Care First, in response to COVID-19.”

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