TMG Group Agrees Acquisition of Later Life Money as It Accelerates Specialist Advice Growth Strategy

Subject to FCA approval, the acquisition marks another step in TMG Group's plan to build a broader, specialist-led financial services group

TMG Group, parent company of TMG Financial Services, has agreed the acquisition of Later Life Money Limited, subject to FCA approval, as the wider group accelerates its strategy to build a broader, more specialist and more valuable financial services business.

The move signals TMG Group's continued ambition to grow beyond traditional network scale and invest in specialist advice capability, adviser development and strategic acquisitions that strengthen the group's long-term proposition, and, in turn, what TMG Financial Services can offer its member firms and advisers.

Later Life Money, founded by experienced later-life adviser Steve Paterson, has built a respected name in the later-life lending market, supporting clients approaching, entering and living in retirement.

The transaction follows a long-standing relationship between TMG Financial Services and Later Life Money, which has operated within the TMG community as an appointed representative. The move reflects a strategic decision to take a specialist proposition already well known to us and give it a larger platform for growth.

Once completed, Later Life Money will become part of the wider TMG Group structure and will act as a specialist point of contact for later-life referrals from TMG Financial Services member firms. For our member firms and advisers, the acquisition will create a stronger route into later-life advice, with additional training, technical guidance and support for firms looking to develop their capability in a market where client needs are becoming increasingly complex.

Steve Paterson will remain with Later Life Money and will take on the role of Later Life Advice Development Director, supporting referral pathways, adviser education and the development of later-life advice capability across the wider TMG Financial Services community.

Scott Thorpe, CEO of TMG Group, said:

"This is exactly the kind of strategic move we want TMG Group to be known for. We are not just building scale; we are building capability, expertise and long-term value."

"Later Life Money is already known to us, Steve is already known to us, and we have seen first-hand the value that proper specialist later-life advice can bring. This is something we have been working towards, and it is a natural next step for the group."

"The market is changing. Firms need more than a network badge and a procuration fee route. They need support, training, specialist knowledge and access to areas of advice that can help them serve clients properly and grow stronger businesses."

"For our member firms and advisers at TMG Financial Services, this is great news. Later Life Money gives them a specialist point of contact for referrals, while Steve will help support, train and develop advisers who want to understand the later-life market properly and build their own capability in this area."

The acquisition comes as TMG Group continues to explore further opportunities to add specialist capability, strengthen adviser support and build a more diversified group. The business has made clear that strategic acquisitions, adviser development and investment in specialist advice areas will form part of its next phase of growth, all of which will flow through to the support TMG Financial Services provides its network.

Scott Thorpe added:

"We are serious about building something different. This is not growth for the sake of headlines; it is about building a stronger group with more capability, more expertise and more value for firms, advisers and clients."

"Later-life advice is one part of that strategy. We will continue to look at opportunities that bring specialist knowledge into the group, improve the support available to advisers and create long-term value. This is another step forward, and there will be more to come."

Steve Paterson, founder of Later Life Money, said:

"Later Life Money has always been built around clear, personal and appropriate advice. Joining the wider TMG Group gives the business the platform to move forward, while allowing me to remain involved and help more advisers understand the later-life market properly."

"I am looking forward to working with TMG Financial Services member firms and advisers, supporting referrals and helping develop the knowledge and confidence needed in this important area of advice."

Subject to FCA approval, Later Life Money will continue to operate as a specialist later-life advice business within the wider TMG Group. The business will support suitable client referrals from TMG Financial Services member firms while also helping advisers build skills, knowledge and confidence in the later-life lending market.

The transaction remains subject to FCA approval. Further updates will be provided on this website once the approval process has been completed.