04 February, 2008
The rapidly growing Independent Investment Associates ("IIA") has been sold to the quoted Arc Fund Management Holdings plc. Formed in 2002, and Cumbria based, IIA specialises in bespoke financial planning advice to business owners and high net worth individuals. With an estimated £150m of funds under advice and over 1000 clients, IIA is confident of securing further growth by building on their reputation for quality and excellence.
Forbes Solicitors advised the sellers on all legal issues including corporate, employment and property matter.
Head of Business Law Daniel Milnes commented: 'We were introduced to the transaction to provide specialist legal advice and having a team of solicitors in different disciplines working on the transaction enabled us to deal with broad legal issues and detailed drafting points quickly and efficiently. The transaction involved a double level of compliance, being a sale to a public limited company within a regulated sector and we dealt with this by liaising closely with other professionals involved and our clients'