UK-based Skipton Building Society has acquired a 75% shareholding in Parnell Fisher Child, a financial adviser, through its parent company, Wooljon.
This is the third financial advice company within the Skipton Group and brings the total number of subsidiaries to 19. While Parnell Fisher Child (PFC) will now report to the Skipton’s main board of directors, it will continue to be run as an independent company and will retain its brand.
David Cutter, group corporate development director of Skipton, said: Financial advice has always played a big part in the Skipton group’s service offering and so the benefits of PFC joining us are obvious. The company has an excellent reputation, matching that of our existing companies, Skipton Financial Services and Pearson Jones, and the potential for growing this business is substantial.
Perry Rapley, managing director of PFC, added: We are delighted that the sale has completed. A key factor for us was to keep the Parnell Fisher Child brand which has been built over 25 years. The backing of a secure and respected institution such as the Skipton group will give us the ability to expand the business, whilst the continuity of management within the company gives comfort to staff and clients alike.