Firm buys MBL from Knox Financial Services
Local independent financial advisor (IFA) Edgewater Associates Ltd has acquired another IFA at the cost of £1.7 million.
It's bought MBL from Knox Financial Services which brings with it six members of staff and around 4,000 clients.
Group finance director Douglas Grant said the move is aimed at nurturing organic growth by adding already established businesses to "augment its portfolio".
Managing director Sandra Cardwell says the company is well prepared for the transition.
Edgewater is a wholly-owned subsidiary of the Manx Financial Group PLC - and a sister company to Island-based Conister Bank Ltd.
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