Financial advice offering grows with acquisition by Skipton

Skipton Building Society has announced that it has acquired a 75% shareholding in Parnell Fisher Child (PFC) through its parent company, Wooljon Ltd.

This is the third financial advice company within the Skipton Group and brings the total number of subsidiaries to 19.

PFC is an independent financial adviser of 25 years standing, offering personal finance planning for over 10,000 private and corporate clients, with an emphasis on pension planning. The company operates from offices in Reading with a staff or 22, including eight advisers.

David Cutter, group corporate development director of Skipton, said, “Financial advice has always played a big part in the Skipton Group’s service offering and so the benefits of PFC joining us are obvious. The company has an excellent reputation, matching that of our existing companies, Skipton Financial Services and Pearson Jones, and the potential for growing this business is substantial.

“The acquisition of PFC follows hot on the heels of the Group’s recent acquisition of PACE Financial Solutions Ltd, an IFA in County Durham, and demonstrates Skipton’s desire to grow our financial advice presence.”

Whilst PFC will now report to the Skipton’s main board of directors, it will continue to be run as an independent company and will retain its brand.

Perry Rapley, managing director of PFC, added, “We are delighted that the sale has completed. A key factor for us was to keep the Parnell Fisher Child brand which has been built over 25 years. The backing of a secure and respected institution such as the Skipton Group will give us the ability to expand the business, whilst the continuity of management within the company gives comfort to staff and clients alike.”