Management buyout of a financial planning firm | Yorkshire Deals News

Pictured (LR): Josh Richardson, Sarah Williams, Anjeanette Kemp, Joe Sanders and Jessica Crawford

An East Yorkshire Chartered Financial Planners company has been the subject of a management buyout (MBO).

Eight employee shareholders of Informed Financial Planning form the buyout team, six of whom have qualified with the company.

Founder and owner Kevin Ferriby sells majority ownership to employees over a period of time through a stock ownership plan to ensure the company’s longevity and continued independence.

Ferriby, who created the IFP in 2004, will continue in the short term as general manager and will retain a minority stake, before becoming chairman.

The employees involved are Certified Financial Planners Gregg Crawford, John Copsey, Darren Goodall, Josh Richardson and Joe Sanders; business development manager Jessica Crawford; Head of Compliance and Technical Anjeanette Kemp and Head of Finance and Operations Sarah Williams.

A new board of directors will be announced in April.

Kevin Ferriby said of the takeover: “We have structured it to enable those involved in the success of the business to drive it forward, protecting the interests of our customers and maintaining the spirit of the business. Almost all of them have trained with us and come through the ranks.

“Most of the competitors in similar positions have sold to larger companies that are part of a network and therefore lost their independent status, and I didn’t want that to happen.

“I am proud of what has been achieved, and of the team that makes IFP what it is today.”

Informed Financial Planning has offices in Hull, Leeds and Barnsley, employing 31 people.