MBO secures the future of the financial planning business

A management buyout has been set up at a company of licensed independent financial planners in East Yorkshire.

Eight employee shareholders of Informed Financial Planning (IFP) make up the buyout team, including six qualified within the firm.

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 managing director 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; Compliance and Technical Manager, Anjeanette Kemp and Finance and Operations Manager, Sarah Williams.

The company has 31 employees and has offices in Hull, Leeds and Barnsley. It aims to encourage the younger generation to plan for the future and recently launched Informed Generation as a brand to make high quality financial services accessible and attractive to Millennials and Gen Z age groups.

Ferriby said: “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.

The six qualifiers with the IFP are Josh Richardson, Jessica Crawford, Gregg Crawford, Joe Sanders, Darren Goodall and John Copsey.

Richardson said: “The diverse age range of the buyout team, from early 20s to early 60s, really adds value to the service we are able to offer our clients. It’s great to have the opportunity to be an integral part of the company and its future.

Crawford was IFP’s first apprentice 12 years ago. She said becoming a shareholder in the company was an exciting step in her career. “The journey so far at IFP has been fantastic and the future looks very bright,” she added.

In addition to having corporate status, all IFP financial planners have individual status. A new board of directors will be announced in April.

Join us at the 2021 Rainmaker Awards in Manchester on September 9