The Spectrum IFA Group has expanded its existing Swiss operation with the acquisition of a 50% shareholding in Blackden Financial.
Discussions began last year and the deal was concluded on 22 May. Details of the transaction were not disclosed.
The Blackden name, office and personnel will be retained.
Both companies were founded in 2003; with Blackden operating exclusively in Switzerland, while Spectrum has 12 regional offices in France, Spain, Switzerland, Italy, Belgium and Luxembourg.
Chris Tagg, Spectrum director, commented: “The stake in Blackden allows Spectrum to further develop its Swiss-based expatriate investment and tax planning capabilities, whilst giving Blackden access to locally-compliant solutions in some of Spectrum’s EU markets, including France, Italy and Spain.”
Michael Lodhi, Spectrum’s chief executive and co-founder, added: “I have known [Blackden founder and chief executive] Chris Marriott for more than 15 years, we were instrumental in the creation of the Federation of European Independent Financial Advisers (Feifa) and I am delighted that we can now work together on a commercial basis.”
Back in 2016, Marriott spoke to International Adviser about the challenges posed by running a UK-style financial advice business in Switzerland.