KYMIN Financial Services has linked with the oldest established IFA in Newport, Hancock Life and Pensions, to create a powerful new force in independent financial advice.
Hancocks, established in 1979 and with a current workforce of eight people, has combined with Kymin Financial Services Limited, the 52nd largest IFA in the UK.
Hancock’s, based on Chepstow Road, Newport, will continue to trade from its existing office.
Robin Hall, Kymin Financial Services Operations Director, said the firm will in time become the retail arm of Kymin, providing services such as life assurance, mortgages and equity release.
He said Kymin, based at Bridge Street, Newport, will continue to offer investments and pensions as well as handling its ever growing corporate pensions business, through its employee benefits division, Kymin Corporate.
Hall said: “We see this merger as a great opportunity not only for the enlarged group to grow but also for our existing and future clients.
“Following our acquisition last year of Wyndham J Williams Financial Services and the launch in the spring of Kymin Corporate, we can look forward to the future with increased confidence.
“We will be launching a new proposition to our clients early in 2012, a year ahead of the requirements of RDR. I look forward to working with Ian and the team at Hancock’s.”
Hancock Life and Pensions was established 1979 by Vince Hancock, out of Leonard D Morgan Insurance brokers. Ian Tweddle joined the partnership in 1987 having worked previously with Lloyds TSB.
Ian Tweddle, of Hancock’s, said “Two of the longest established IFA’s in Newport have come together to form what is now the largest IFA in the area.
“Bearing in mind the important changes within the industry with the Retail Distribution Review (RDR) and auto-enrolment, the combined knowledge and experience that the enlarged group now has will see us as a force to be reckoned with within Wales”.
He said the combined business will now be able to offer pensions, both personal and Corporate along with all other employee benefits such as death in service, group healthcare schemes; shareholder and director insurance; life assurance; investments; mortgages, equity release; inheritance tax advice; stock broking, including share dealing and investment management through Redmayne-Bentley Stockbrokers.