TEAM announces acquisition of HBFS

Posted: 03/01/2024

Financial services group TEAM has acquired the entire issued share capital of Jersey-based financial planning business Homebuyer Financial Services (HBFS) for £2.4m in cash, subject to approval from the Jersey Financial Services Commission.

Founded in 1988, HBFS sells investments, pensions and protection policies to retail clients. Working from offices in St Helier, it has assets under advice of approximately £135m and 10 full-time employees. 

It specialises in savings and retirement planning, insurance cover and mortgage and loan services to its Jersey client base.

The acquisition of HBFS is the third Jersey financial planning business to be acquired by TEAM, following its takeover of Concentric Group and Omega Financial Services in 2022.

HBFS will be integrated into the TEAM platform under the Concentric brand led by Concentric MD Gordon Bennie. 

It is intended that HBFS’ office will close and its staff will move into Concentric’s offices in St Helier. 

HBFS Directors Michael Barney and Marzena Dziewulska will remain with the company for a three-month handover period and then be available as consultants.

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