We are excited to announce we have implemented a management buyout at IFP!
Eight shareholder employees make up the buyout team, six of whom qualified with us.
Our founder and Managing Director, Kevin Ferriby, is selling the majority shareholding to our employees over a period of time through a share scheme to ensure the longevity and continuing independence of our award-winning business! Kevin, who formed IFP in 2004, will continue in the short term as managing director, before moving to the position of chairman.
The employees involved are: Chartered Financial Planners Gregg Crawford, John Copsey, Darren Goodall, Josh Richardson and Joe Sanders; Head of Business Development, Jess Crawford; Head of Compliance and Technical, Anjeanette Kemp and Head of Finance and Operations, Sarah Williams.
As many of you may know, Gregg, John and Darren are all existing shareholders of IFP. We recently invited Jess, Anjeanette, Josh, Joe and Sarah on board to also become shareholders, which will not only assist us in this management buyout, but also rewards their hard work and contribution to the company.
Kevin said of the buyout: “We have structured it to enable the staff involved in the success of the business to take it forward, protecting our clients’ interests and retaining the spirit of the company. Nearly all of them have trained with us and risen through the ranks.
“Most competitors in similar positions have sold to larger corporations who are part of a network and therefore have lost their independent status, and I did not want this to happen.
“I am proud of what has been achieved, and of the team who make IFP what it is today.”
The six who qualified with IFP are Josh Richardson, Jessica Crawford, Gregg Crawford, Joe Sanders, Darren Goodall and John Copsey.
Josh said: “The diverse age range of the buyout team, from early 20s to early 60s, really adds value to the service we are able to offer our clients. It’s great to have the opportunity to be an integral part of the company and its future.”
Jess was IFP’s first apprentice 12 years’ ago. She said that to become a shareholder in the business was an exciting step in her career. “The journey so far at IFP has been fantastic and the future looks really bright.”
As well as having corporate chartered status, all our financial planners have individual chartered status, achieved through sitting a broad range of exams and meeting a high standard of eligibility criteria.
We will be announcing a new board of directors in April, so keep your eyes peeled!