SHARE confirms Newpark acquisition

Following an exclusive report by Good Returns this morning, the two adviser groups confirmed their tie-up in a statement.

SHARE's takeover will create a group with more than 500 advisers across investments, insurance and mortgages.

SHARE chairman Richard Thomas said: "The collective strengths of both organisations ensure clients will continue to receive quality financial advice. It represents a fantastic opportunity for advisers to leverage the scale of the organisation to realise their growth aspirations while safely navigating through new industry regulations."

Newpark founder Darren Gannon (pictured), who is selling his controlling stake and stepping down from the board, said: "The combined business brings together a vast array of knowledge and expertise from across the sector to give advisers access to integrated advice and CRM platforms, training, practice development tools, regulatory compliance systems and succession planning.”