One of the largest financial advice businesses in Northern Ireland, Milecross Financial, has been acquired by the Openwork Partnership. The acquisition is part of a strategic investment programme as the company continues its focus on growth.
Milecross has been part of the Openwork Partnership for 20 years, and over that time has grown to be one of the leading Strategic Partner Firms in the network. The national advice business has over 100 advisers located across Northern Ireland and the rest of the UK and assets under advice / management approaching £750m. Milecross also has a sizeable Mortgage and Protection business, which operates under the Mortgage Solutions brand.
In recent years, Milecross has made significant investments to further expand its operations. This has included several key acquisitions and partnerships in Northern Ireland, Scotland and England, which has enabled the company to double in size.
The move will enhance the relationship between Milecross and Openwork and provide Milecross with access to further support, experience and scale, which will underpin the continued drive for growth and development of Milecross across all the areas in which it operates.
Commenting on the acquisition, Paul Dalzell, Milecross founder and CEO, said, “I am incredibly proud of what Milecross has achieved as a business over the last 20 years. The relationship with Openwork is a strong and enduring one, and being part of the Openwork network has given us the platform and environment to build a great business. Now, this extension to our relationship cements the future for our clients, advisers, colleagues and the next generation of Milecross.”
Philip Howell, CEO of Openwork added “Conversations with Paul and his team at Milecross have been held for a little while and now we have the growth capital to invest in this thriving enterprise as intended. The business will continue to be run autonomously, and the management team will remain at the helm. Milecross will continue to benefit from its Strategic Partner Firm status – so it’s very much Business as usual for everyone.”
