2Plan announces deal with 40-adviser Source Financial

National IFA 2Plan has announced a link-up with south-west based adviser Source Financial.

The deal will see Source's 43 advisers become registered individuals (RIs) of 2Plan and take the number of 2Plan practitioners beyond 150.

Source was established in 2003 and has a business split of 75% investment and 20% pensions, with a small amount of mortgages and protection.

Chris Smallwood, 2Plan CEO, says Source's investment-heavy strategy fits 2Plan's wealth management focus.

"We are very impressed with the professionalism and commitment which Source has shown both to its advisers and clients," Smallwood says.

"With its enviable track record of success and profitable business growth, this announcement represents a very attractive and important step in our future expansion plans."

Peter Trotman, managing director of Source Financial, says 2Plan's technology-led proposition was central to its decision to join the national IFA.

"We had been in negotiations with several adviser firms recently with regards to moving from direct regulation to coming under a bigger umbrella - with all the benefits this offers," he says.

"2plan is one of the most progressive and exciting firms in the market place, renowned for its superb software systems which revolutionise the ease with which advisers can write business and operate in a compliant manner."