August 21, 2018
Proven Investments Limited (PROVEN) has confirmed that the Company has acquired 100% of the shares in International Financial Planning (Cayman) Limited (IFP) as at August 15, 2018. IFP was acquired for Fourteen Million Two Hundred and Thirteen Thousand Six Hundred and Ten United States Dollars (US$14,213,610).
IFP is a licensed securities dealer with offices in Cayman, Bermuda & the British Virgin Islands with assets under management of close to US$160 million.
The acquisition was approved by the Cayman Islands Monetary Authority, the Bermuda Monetary Authority and the British Virgin Islands Financial Services Commission.
IFP’s experienced team of employees will remain in place so there will be no disruption to the day-to-day business activities of the company. Core services and investment options for clients will continue. Operations will continue to be maintained in the existing three jurisdictions of Cayman, Bermuda and BVI and regulated accordingly by the relevant regulators.