Skipton Building Society acquisition
by Kay Murchie
Skipton Building Society 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 bringing the total number of subsidiaries to 19.
PFC has been an independent financial adviser for 25 years and operates from Reading with a staff of 22. The company offers personal finance planning for more than 10,000 private and corporate clients, focusing on pension planning.
PFC will now report to the Skipton’s main board of directors, however, it will continue to be run as an independent company and will keep its brand.
A spokesperson for Skipton commented that financial advice is a big part of the Skipton Group’s service offering. The acquisition of PFC follows the Group’s recent acquisition of PACE Financial Solutions Ltd, an Independent Financial Adviser in County Durham.
A spokesperson for PFC said they are pleased that the acquisition has been finalised. The company was eager to keep the Parnell Fisher Child brand. The support of a secure and respected institution such as the Skipton Group will help grow the PFC business.
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Story link: Skipton Building Society acquisition
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