MAC Financial Ltd (part of the MAC Group) has announced a further expansion with the acquisition of the clients of Island Financial Solutions Limited (IFS), an independent financial advisor business based on Prospect Hill in Douglas.
All IFS employees have been offered contracts with MAC Financial with the exception of IFS co-founders and directors.
Commenting on the acquisition, Jon McGowan, MAC Group CEO, said: “MAC is constantly looking at strategic opportunities to grow our successful financial services business”
“IFS has built up a significant number of long-established clients who have similar needs to our own and we look forward to welcoming them, along with our new colleagues, into the MAC family.”
An IFS Director, said: “We are pleased we have found a company such as MAC Financial who can fully support our clients and employees going forward. In these uncertain times, we came to the conclusion that a much larger group, with a higher number of specialist financial advisers and support staff, would provide our clients with an excellent and consistent quality of service, together with the peace of mind that their financial planning needs are in good hands. We have worked closely with the team at MAC to ensure there is a smooth transition for our clients and employees.”
Alongside its private client division, MAC Financial offers financial advice to companies and delivers market leading employee benefit schemes to more clients than any other Financial Adviser on the Island. Mr McGowan said that negotiating the acquisition in the current difficult circumstances was an achievement and a credit to the MAC team, and formed part of a planned growth strategy.
“We have a number of discussions underway regarding further acquisitions and would always like to hear from both IFAs and general insurance brokers who may wish to retire or exit the industry,” he added. “We can offer an attractive package to work with business owners to unlock the value they have built up in their companies.”
The FSA has confirmed the acquisition can go ahead and is expected to be completed by 1st November 2020.
MAC Group | 20 years in the making
From Pensions to Fintech (via Triathlon) - the journey of an EntrepreneurJon McGowan, CEO and founder of MAC Group, sat down with Hannah Francis, Marketing and Communications Lead, to reflect on the Group's remarkable 20-year journey.Jon McGowan...
Mark Murley joins MAC Financial
Mark Murley has joined MAC Financial as a Senior Independent Financial Adviser.
MAC Sponsors IOM CoC Positive Health & Wellbeing Conference
The Positive Health & Workplace Wellbeing Conference takes place on 26 November, with MAC sponsoring the leadership breakfast.
MAC Group Sponsors Isle of Man Team in 2024 Small States of Europe Badminton Championships
MAC Group Sponsors Isle of Man Team in 2024 Small States of Europe Badminton Championships
Mike Stringer Promoted to Senior Group Risk Consultant
MAC Financial is pleased to announce the promotion of Mike Stringer to Senior Group Risk Consultant.
MAC Group Golf Day raises £6,000 for charity
MAC Group Golf Day raises £6,000 for charity MAC Group is thrilled to announce that our Charity Golf Day, held on 13 September 2024 at Ramsey Golf Club, raised an impressive £6,000. This significant amount was generated through entry fees, a...
Trainee Paraplanner Todd Crellin Earns CII Regulated Diploma
Trainee Paraplanner Todd Crellin Achieves Chartered Insurance Institute (CII) Regulated Diploma at MAC Financial MAC Group is proud to announce that Todd Crellin, one of MAC Financial’s Trainee Paraplanners, has successfully passed the Chartered...
MAC Group Sponsors “We Will Rock You”
MAC Group Sponsors “We Will Rock You” The Isle of Man rocked this summer, thanks to the support of MAC Group! Nearly 7,000 people have attended the Taylorian production of “We Will Rock You” at the Gaiety Theatre, where MAC Group proudly sponsored...
MAC Charity Golf Day 2024
MAC Group is excited to announce its upcoming charity golf day, set to take place on Friday, September 13th, at the prestigious Ramsey Golf Club.