IFG agrees Quintas partnership
FINANCIAL services firm IFG has signed a "partnership agreement" with Cork-based Quintas Wealth Management that will lead to the creation of up to 10 jobs.
It is understood that the partnership may lead to a deeper relationship in the future, such as a merger or takeover.
The companies are aiming to become the leading pensions provider in Munster.
One of the reasons behind the partnership is the strength of Quintas’s private pension client base in Munster, combined with IFG’s strong Leinster corporate client base.
Noel Creedon, the managing director of Quintas, said it is big news for the company.
"From a commercial point of view, it will strengthen both firms’ distribution capabilities in the Munster region and facilitate accelerated growth. IFG Corporate Pensions has largely a corporate client base and Quintas Wealth Management a private client base.
"This partnership aims to utilise asset allocation strategies to provide a unique product offering for both corporate and individual clients, with particular focus in the area of corporate pensions," said Mr Creedon.
The agreement will give Quintas, which employs 14 people in Cork, access to a framework that allows clients to model economic and asset scenarios to improve their understanding of financial market risk and make appropriate adjustments to their funds.
IFG Ireland chief executive Gary Owens said: "This new and exciting partnership will combine broad expertise and a range of highly innovative products and services.
"The expertise in product development and service delivery in both firms is hugely complementary and will mean clients on both sides will have even greater access to a new suite of products and services such as specialist investment products, BES and Energy offerings, together with dedicated corporate pensions’ expertise," he said.
The companies will be based at Quintas’s location in Blackpool, Cork.
IFG Corporate Pensions is a subsidiary of IFG Group. Headquartered in Dublin, it is listed on the Irish and London stock exchanges.
Quintas was established in Cork in 2005 and has a renewable energy business in Seville, with other offices in Rome and London.
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