Marygold & Co (UK) has completed its acquisition of chartered financial planning firm Step-By-Step Financial Planners as part of a bigger strategic goal to roll out a digital savings products to individuals and businesses.
Based in Rugeley, Staffordshire, England, SBS has approximately £27m in assets under advice. The firm’s core business is managing clients’ financial wealth across a diverse product range.
Matthew Parden, CEO of Marygold & Co. (UK) said, “The acquisition of SBS is a very important deal for Marygold & Co. in the UK, in line with our strategy of building and developing digital channels for savings and investments. We see here, an opportunity to leverage our highly transformative fintech capabilities within the UK and help address the recognised advice gap faced by too many consumers. SBS brings a client base, a valuable infrastructure, and additional staff to help us grow and expand our traditional advice services to new clients.”
“The acquisition of SBS is in keeping with our corporate strategy of expanding and growing our presence in the global financial services and fintech sector under the Marygold & Co. brand, which was established in 2019,” said Nicholas Gerber, TMC’s chief executive officer. “It represents the second acquisition completed by Marygold & Co. (UK), following the purchase in 2022 of UK-based financial advisory firm Tiger Financial & Asset Management Limited.
“We look forward to providing multi-channel financial services to our growing base of existing and new clients, both through traditional business advisory and our new fintech app that we plan to introduce in the UK later this year, following a successful U.S. launch in 2023.”
Kevin Pratt, founder of Step-By-Step, who with his team will continue to work with the company, said: “I am delighted that Step-By-Step Financial Planners Ltd has become an integral part of the Marygold Companies’ family and I look forward to maintaining my relationship with our existing and very much valued clients by continuing to advise them and to maintain the high standards of service they have come to appreciate.”
Marygold & Co (UK) Limited was formed in August 2021 to make acquisitions in the UK for its parent company in the U.S., The Marygold Companies, Inc. MGUK intends to leverage the proprietary fintech capabilities of its affiliate,
Marygold & Co, a U.S. fintech company which itself went live in 2023, and will provide wealth management and savings services to UK clients through a combination of App-based functionality enriched by access to qualified financial advisors where appropriate.
MGUK intends to launch the first phase of this digital strategy in 2024 offering instant access savings products to individuals and small businesses. It also intends to offer tools to radically simplify and enhance the clients’ experience from account opening to management and administration of their accounts.
