A company that employs 32 Paraplanners has announced the takeover of a rival Paraplanning firm.
Svensoni Paraplanning has acquired Paracor for an undisclosed sum and signalled intentions to hire more Paraplanners in coming months.

The firm also revealed it is planning further acquisitions as part of “ambitious growth plans”.

Paracor's principle, Andrew Ransley, will become head of wealth management support - the High Net Worth and Ultra High Net Worth wing of Svensoni.

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He will also join the board of Svensoni's soon to be launched compliance services vehicle as technical services director.

The company, which has its head office in Swindon, Wiltshire, said plans to increase the number of Paraplanners from 32, were already in place.

Tony Stevens, Svensoni's chief executive, said: "I am delighted to continue our aggressive growth strategy with the acquisition of such a high quality business and its strong client base, and am particularly pleased to welcome Andrew, whom I have known for some years on board.

“Andrew's many years of experience assisting HNW and UHNW advisers will add additional strength to our offering to this segment of the advisory community, and his insights will be equally invaluable as we prepare to launch our compliance services offering later this year."

Svensoni launched in 2010 and described itself as having become “one of the largest outsourced Paraplanning providers in the country”.

Svensoni also has an office in Ascot, where its administration support team operates.