Growth of investment company Moneycube continues with two acquisitions

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Online investment and pension firm Moneycube has bought two Dublin-based financial advisory firms as industry consolidation continues.

oneycube acquired Allen Retirement & Finance (ARF) and Pension Investment & Property Trustees (PIPT).

The companies specialize in corporate retirement advice and private wealth management.

Moneycube grew at an annual rate of more than 125% last year, and the combined business will have more than $100 million in assets under advisory, according to a company statement.

The company expects revenue of over €1 million for its first full year of combined operations.

ARF and PIPT were established in 2000 and 2005 respectively. Both will continue to operate under their existing brands and with the same management teams.

“The founders of ARF and PIPT have built two premier retirement and investment companies in more than 20 years,” said Ralph Benson, head of financial advice at Moneycube.

“Moneycube looks forward to partnering with them so that we can continue to provide the high quality advice their business and retail clients have come to expect.”

Financial details of the deal were not made public.

Moneycube was founded in 2015 by chartered accountant Ralph Benson and banker Feargal McKenna.

Mr McKenna, head of business at Moneycube, said the group foresees “significant consolidation in the pension and advice industry in Ireland, driven by changing client demand, demographics and regulation. , and supported by the growing interest of private and commercial investors”.

He added that the company “intends to play a leading role in this consolidation.”

“The agreement with ARF and PIPT is a great example of how we can be an ideal partner to support a planned exit of high-quality, owner-managed pension and investment advisory businesses,” he said. he declares.

The co-founders of Moneycube will become directors of ARF and PIPT.

Declan Allen, Managing Director of AFR, will become CEO of ARF, and Sean Cassidy, Founder of PIPT, will become Senior Investment Consultant to the larger company.

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