Buy out from Glenrand MIB creates new financial planning consultancy

A new niche player in the financial planning market, with assets under management of more than R1-billion has arisen from a buy-out of the financial planning division at Glenrand MIB Benefit Services.

Two of the division's leading brokers, James Vickers and Ian Peters, have established the new operation, Vickers & Peters, to service the financial planning needs of corporates and high net worth individuals.  The consideration for the deal was not disclosed. 

The new operation has moved across to offices in Rivonia. Relevant financial planning systems and processes have been inherited seamlessly from Glenrand MIB.

"It's in the interests of our clients to have a new, streamlined structure with more personalised and regular service, individual accountability and greater independence," said Vickers. 

"Other senior consultants will join the company in due course.  We are positioned as a significant, specialised 'niche' participant in the financial planning market, while at the same time not being too large to provide a highly personalised, tailor-made service, particularly as markets become more volatile."