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Skipton acquires 86% stake in Torquil Clark Holdings

Skipton Building Society Group has acquired an 86% shareholding in Torquil Clark Holdings, as part of its strategy to strengthen its financial advice offering.

Torquil Clark is a financial advice company, which offers advice on financial planning, investments, employee benefits, mortgages and life insurance. The company operates from offices in Wolverhampton and the Lake District.

While Torquil Clark will report to Skipton’s main board of directors, it will continue to be run as an independent company and will retain its brand.

David Cutter, group corporate development director of Skipton, said: We already have a strong presence in the independent financial adviser market with our existing subsidiaries Skipton Financial Services, Pearson Jones and Parnell Fisher Child, so the fit of Torquil Clark in the group is obvious.

John Chapman, managing director of Torquil Clark, added: We are delighted that Torquil Clark has become part of the Skipton Group. The backing of such a secure and respected institution will give us the ability to expand the business, whilst the continuity of management within the company, and the retention of the brand, gives comfort to staff and clients alike.