Wealth management and financial services firm Team has acquired Homebuyer Financial Services Limited (HBFS), a Jersey-based financial planning business, for £2.4 million.

Founded in 1988, HBFS has assets under advice (AUA) of approximately £135 million with over 1,000 clients serviced by 10 full time employees.

In the year ended 31 January 2023, HBFS generated revenues of around £1.3 million with a pre-tax loss of £15,000.

Thornton has audited gross assets of £838,000.

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

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