MMPI is delighted to announce that it has acquired 100% of Oregan Financial Services Limited t/a Blackthorn Capital, a company established in 2009 by Mr Joe O’Regan. It is a statutory requirement that all mergers and acquisitions in the financial services industry require the prior approval of the Central Bank of Ireland and this particular purchase received regulatory authorisation last week following a lengthy approval’s process. This is MMPI’s fourth acquisition in the past 10 years and demonstrates its resilience and its determination to remain a leading player in the provision of financial advice in Ireland.
This is a hugely positive development for clients of the expanded MMPI Group as they are now part of a significantly larger business. MMPI was founded in 1993 and has steadily developed its financial advisory activities in the areas of life and non-life insurance, mortgages, pensions and investments. It now employs over 40 people.
Speaking from the MMPI offices in Donnybrook, Dublin, Mr Bryan Moloney, Group CEO said, “This acquisition represents an exciting development for MMPI and for the clients of Oregan Financial Services. Together we aim to grow our market share and provide even greater levels of quality service to all our clients – both old and new. We have identified a high degree of symmetry in the two businesses and we believe we can use this to the best advantage of our clients.”
MMPI Group has four primary business divisions; Life & Pensions, Mortgages, General Insurances and Investment Services. It operates exclusively in the intermediary advisory space between its customers and banks, insurance companies and fund managers – ensuring that clients purchase financial products that are suitable to their needs. This type of business is known as financial intermediation and it provides additional protections for all consumers when they are purchasing financial products and services.
The financial world is currently a very tightly regulated industry where regulators impose entry restrictions on participants to ensure they are competent, capable and have the required level of integrity in order to impart financial advice to consumers. This is a necessary safety check in an industry where past lapses have proven costly for consumers. All employees of MMPI Group retain the necessary academic qualifications to provide financial advice to consumers and they top-up these qualifications by attending ongoing classes thus ensuring their continuous professional development.
MMPI believes that it is very well placed to continue to grow its business and to provide high-quality advice to its expanding client base. It retains regulatory authorisations to promote its business activities in the UK, which will facilitate clients, particularly in Northern Ireland, in a post-Brexit environment. Mr Moloney has confirmed that MMPI remains vigilant and cognisant of market developments; and stands ready to acquire other suitable companies in the future whenever the situation arises. MMPI is a great success story and is far removed from its humble beginnings in 1993. Long may it continue!