Broker completes major acquisition

Towergate has completed the acquisition of mortgage broker John Charcol, as predicted by

The broker also has a general insurance arm - John Charcol Independent Insurance Brokers - specialising in home insurance.

It will form part of Towergate's IFA business.

All John Charcol staff and directors will be making the move to Towergate Financial.

John Charcol chief executive John Garfield will work closely with Towergate Financial chief executive Ian Darby to grow the business alongside his current management team.

Towergate chairman, Peter Cullum, said: “We are delighted to welcome 100 new staff to Towergate and to have secured their futures under the John Charcol brand, a brand which enjoys a great reputation and which we will retain and further develop.

"Towergate Partnership enjoys the benefit of owning businesses with leading brands in their sector, for example Fusion, Haywards Aviation, Broker Network and Paymentshield. To have the leading high net worth mortgage broker in the Group gives us a huge opportunity to provide mortgages to our high net worth customers and SME owners. A perfect fit with Towergate Financial which goes from strength to strength under the leadership of Ian Darby who, as former CEO of Charcols, knows this sector of the market inside out.”