This week sees the completion of Edgewater Associates acquiring Knox Financial Services’ Lasenby Knox IFA business.
 
This deal follows Edgewater’s purchase of MBL Financial last December, creating a new IFA powerhouse on the Island.
 
Edgewater Associates – which is part of Manx Financial Group Plc – will ensure all Lasenby Knox clients will be transferred across and continue to receive excellent service throughout the transition. Knox Financial Services will retain its Lasenby Knox brand.
 
Commenting on the deal, Sandra Cardwell, managing director at Edgewater Associates said: “The Lasenby Knox client list was an attractive proposition for us as we seek to strengthen our offering and develop our business further. The backing of a heavyweight Plc allows us to provide robust infrastructure and forward-thinking advice to our corporate and individual clients.  The acquisition is a natural extension of the MBL purchase and we look forward to building on this.”
 
Mary Brady, chief operating officer at Knox Financial Group, of which Lasenby Knox  is part of, added: “As a group, we made the decision to move out of the advisory space on the Island. Developing our IFA businesses to the point of sale is a real success story for us. I look forward to making more announcements as regards new hires and innovative initiatives throughout the year.”

Photo - Mary Brady, Chief Operating Officer at Knox Financial Group.