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Pivotal has bought two mortgage and protection brokerages in the south-east of England.
The firm said Purely Financial Planning and KMC Financial would benefit from the scale, resources and regulatory expertise of the wider group.
Mayank Prakash, group chief executive at Pivotal, said: “KMC Financial and Purely are both well-run businesses with strong leadership teams and a shared commitment to delivering excellent client outcomes.
“These acquisitions reflect our continued focus on partnering with entrepreneurial brokerages that value quality and long-term growth.
“Pivotal is set up to support firms like KMC Financial and Purely with additional resources and regulatory expertise, enabling continued growth while preserving the entrepreneurial autonomy with shared values that underpin our future success.”
Based in Walton-on-Thames, Purely was established in 2014 and is led by founders Duncan Hodgson and Andrew Glover.
Hodgson and Glover, directors at Purely, said: “Pivotal’s approach strongly aligned with how we have built Purely over the past decade.
“The group’s long-term perspective, coupled with the support of John Charcol’s experienced management team, will enable us to continue growing the business while maintaining the culture, values and client-focused approach that are central to Purely.”
Meanwhile, KMC Financial is based in East Grinstead, West Sussex. Managing director Kevin Orchard will continue to lead the business.
Orchard said: “Joining Pivotal represents a natural next step for KMC Financial. Pivotal’s long-term mindset and respect for entrepreneurial leadership were key factors for us.
“By joining forces, we can continue putting our clients first with quality advice, while gaining access to the scale and support that comes with being part of a larger group.”
hereward.mills@ft.com
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