Manchester-based Grainger Consulting is a compliance firm which has been operating in the institutional and specialist financial planning sectors since it was formed by Paul Grainger in 1993. In addition to financial planning firms, Grainger Consulting deals with collective investment scheme operators, private client investment managers, institutional investment managers, hedge funds, foreign exchange operators, investment banks and broker-dealers.
Gary Dixon, chief executive of Compliance.co.uk Limited, said: “Creating the largest and the best compliance firm in the UK has always been my aim. Eighteen months ago the group comprised Compliance Solutions and turned over £400,000.This year the group comprising Compliance Solutions, Compliance Consultants Limited and Grainger Consulting and will have turnover of £2million.
“Compliance.co.uk Limited clearly leads everyone else in the market in terms of size and turnover, and we will continue to grow organically and by acquisition. We are considering whether to undertake an AIM market IPO in the next couple of years.”
Paul Grainger, founder of Grainger Consulting, said: “Compliance.co.uk Limited and Grainger Consulting are a great fit. While we share similar values and standards, we operate in different market sectors and different UK regions.Grainger Consulting’s institutional and financial planning clients will complement the rest of the group’s investment, mortgage intermediary and general insurance clients.
“The advantage of being part of a larger group is the improved breadth of technical knowledge and facilities. We were weak in areas where Compliance.co.uk were stronger and vice versa, but together our research and technical resources allow us to advise on the whole of the FSA rule book.”
With consultants based from Truro in Cornwall to Edinburgh in Scotland, Grainger Consulting also brings the benefit of a wider geographical coverage, and its strong relationships with legal firms and other introducers will profit the Compliance.co.uk Limited group as a whole.
Paul Grainger will remain as managing director of Grainger Consulting, which will continue to operate under its own name. Paul will also join the Compliance.co.uk Limited board.
