Finance advisers in buyout

A Bath-based finance firm has bought an established financial advisory business in Cambridge.

Money Wise Financial Advisers took over Lee and Co earlier this month in a move designed to expand services for its existing clients and attract new customers by offering extended services.

The sale means Money Wise, which was launched in Bath in 1997, now operates from headquarters at Chapel Row with a staff of around 30 in a network of around four offices across the country.

The firm employs 17 people in Bath and the purchase of Lee and Co has added a further nine new faces to the fold.

Money Wise founder and managing director Malcolm Coury started the company with his wife Halena and said the team in Cambridge had demonstrated a proven track record of providing a high level of customer care and professionalism.

Mr Coury said: "We are very excited about acquiring this well-respected firm and, in particular, being able to grow the existing relationships with both private clients and many of Cambridge's best known employers."

Lee & Co was founded in 1962 and long-time partner Phillip Bowden- Pickstock said he was keen to move the business forward.

Money Wise is now one of the UK's top 100 fastest-growing independent financial advisers.

Mr Coury said: "We are swimming against the current economic tide and this acquisition makes us stronger going forward."