Chase de Vere acquires specialist financial planning firm

Chase de Vere has acquired specialist financial planning firm Medical Money Management.

The firm, which advises medical and dental professionals, has eight offices ranging from Exeter to Glasgow.

30 IFAs will join Chase de Vere through the acquisition alongside another 50 staff.

Chase de Vere did not disclose the cost of the deal.

Medical Money Management partner Craig Watson says that after “comprehensive research” into the business’ requirements, the firm decided it needed to be part of a larger company, but was “imperative” that it remained independent and not join a restricted firm.

Chase de Vere chief executive Stephen Kavanagh says: “We share many similarities with Medical Money Management, including expertise in advising the medical profession, a strong focus on putting clients first and a commitment to remaining independent and providing independent financial advice to our clients.

The acquisition comes on the back of Chase de Vere’s decision last year to set up a specialist team to target medical profession advice relationships.

The firm’s pre-tax profits increased slightly to £5.8m last year as the amount it has had to pay in legacy compensation payouts has started to fall.