Elevation Financial Group set for growth via four new acquisitions


Tony Smith, Group Managing Director at Elevation Financial Group

Elevation Financial Group (EFG), a specialist consolidator of independent financial advisors (IFAs), is set for expansion as it prepares for an extensive acquisition programme following a funding boost.

The firm, with offices in Birmingham, London and Nottingham, is set to double in size through the purchase and integration of four IFA practices as part of its M&A strategy in 2021.

The acquisitions will enable EFG to meet increasing client-demand as well as simultaneously strengthening market position, overall capability and growing its client-base.

The M&A strategy is being supported thanks to an undisclosed commercial loan from Shawbrook Bank, which also includes the refinancing of some existing facilities.

Tony Smith, Group Managing Director at Elevation Financial Group, said:

“This is an exciting next development in the ambitious growth plans for Elevation.

Since being founded in 2011, we have grown rapidly and successfully through the adoption of a successful buy-and-build merger and acquisition (M&A) strategy, with a successful track record of identifying complementary IFAs to add to the Group which in turn has strengthened our capability, expertise and reputation.

This latest round of acquisitions will see a further four IFAs join the business which will enable us to double in size in 2021 and strengthen our footing in a growing and vibrant market.”

EFG operates from three main sites across the UK, headquartered in Birmingham but with additional premises in London & South East and Nottingham.

The firm has more than 1,200 clients with more than £400m in current assets under advice.

Since being founded in 2011, it has completed and integrated eight acquisitions to date.

Tony added:

“The commercial loan provided by Shawbrook provided the business with the financial flexibility to both pursue and complete this latest round of acquisitions in line with our ambitious growth strategy.

Throughout the process Shawbrook has demonstrated a strong appetite to support us and their knowledge of the IFA advisory community across the UK – as well as their outstanding reputation within it – provided us with comfort that we were in safe hands.”

Adam Agius, Relationship Director for London and the South East at Shawbrook Bank, said:

“Since its foundation, Elevation has enjoyed a strong track record in acquiring complementary bolt-on firms that align with its ethos, outlook and philosophy.

“Through fantastic management and putting its clients first, the firm has impressively retained almost 90% of its acquired IFAs over the years.

Strong client management in the IFA sector is crucial and Elevation has mastered that skill which has in turn enabled it to rapidly grow through a mixture of successful buy-and-builds and strong recurring revenues.

For Shawbrook, this was an outstanding opportunity to support a business on its growth journey and we are delighted our funding support will enable them to refinance and reduce their cost of capital as well as provide the funding required to grow further.”

Elevation were advised by corporate finance firm, Dyer Baade & Co, who specialise in the financial services industry.

Financial due diligence was provided by Buzzacott.