Exeter-based finance firm in seven figure takeover

Exeter-based Shipman Financial Planning is set to become one of the South West’s leading financial and investment specialists following a seven-figure buyout of a Guernsey firm.

The purchase means Shipman, whose Head Office is based in Exeter’s Southernhay quarter, can now offer financial planning and investment services almost unrivalled outside London.

Through its purchase of Oculus Investment Managers, a successful discretionary investment management company, Shipman FP will now be able to benefit from Oculus’ strategic relationship with James Hambro and Partners, which makes investment decisions on some £15 billion in total.

“This is an exciting time for all of us,’ said Shipman FP Managing Director Peter Ellis, ‘and also for our many clients and for those looking for ‘best of breed’ financial advice and investment management based firmly here in the South West.

“To offer financial advice and discretionary investment management under one roof is a major step forward. We can control the investment process for our clients and offer solutions that are right for them in each case.

“Thanks to this takeover, we can now access the resources of a large institutional investment organisation but still with the values and personal service of a small company”.

“I believe this move makes Shipman one of the largest independently owned businesses of its type in the South West. Currently we have just under 1300 clients who are now able to gain the same level of integrated and dedicated expertise usually only found in London."

In anticipation of this move, Shipman FP has already been expanding its range of expertise by recruiting Chartered Financial Planner Philippa Frost, FPFS Certs CII (MP & ER).

Philippa is one of only six per cent of advisers in the UK who have attained Fellowship of the Personal Finance Society. She is also a Chartered Financial Planner and a member of the Society of Mortgage Professionals. With over 20 years’ experience Philippa offers her clients, who range from retired individuals and their families to local business owners, expertise in many areas.

Philippa is also one of a limited number of South West based financial planners to offer clients specialist advice in equity release.

Shipman’s buyout of Oculus was welcomed by Oculus Managing Director Harry Bazzaz.

He said: “This is an ambitious move by Shipman and one which promises much for existing and potential clients of both companies.

“We welcome their enthusiasm and commitment to Oculus and look forward to a prosperous relationship in the months and years ahead.”