Today’s news in brief – 7/11/2024

Xeinadin, a prominent UK and Ireland-based accountancy and financial advisory firm, has joined the Praxity Alliance, the world’s largest network of independent accounting firms. This partnership connects Xeinadin with a global network comprising over 71,000 professionals across 120 countries. Xeinadin, known for serving SMEs and larger multinational companies with personalised services, continues to expand through organic growth and acquisitions. The firm offers a broad array of services, including tax advice, business consultancy, and corporate recovery. CEO Derry Crowley expressed that joining Praxity aligns with Xeinadin’s vision for international growth, enabling collaboration and enhanced service delivery on a global scale. Cooper Parry has bolstered its presence in Scotland with three significant hires in its national Equity Reward and Venture Capital Schemes team, led by partner Andrew Holloway. The new team members, Kirsty Paton, Ryan Lewis, and Amber Young, bring expertise in tax advisory for incentivizing staff and securing external investment, having previously worked at Chiene + Tait. This move follows Cooper Parry’s rapid growth, quadrupling in size since partnering with Waterland Private Equity in 2022. The firm, known for its forward-thinking culture, is positioning itself as a leading advisor for venture-backed businesses and aims to strengthen its Scottish and UK-wide operations. 20:20 Innovation, established in 1998 and serving over 2,000 firms with training and resources, has acquired Ross Martin and its Virtual Tax Partner (VtaxP) service. This strategic move will see Nichola Ross Martin joining as 20:20’s technical director for tax. Both brands will maintain their unique identities post-acquisition. CEO Michael Roberts highlighted that the merger combines the strengths of both firms to offer comprehensive CPD training, compliance support, and tax solutions. Nichola Ross Martin expressed enthusiasm for the partnership, citing benefits for clients who will gain access to an extensive range of resources and services, marking a transformative phase for the combined entity. Bishop Fleming’s corporate finance team played a key role in advising City Financial Planning Limited on its acquisition by Advanta Solutions Ltd, adding £800m to Advanta’s assets under management. With offices in Bath and Exeter, City Financial Planning aligns with Advanta’s expansion strategy, which has been bolstered by Beech Tree Private Equity investment. Advanta now operates across multiple locations, offering services through Advanta Wealth, Mortgages, and Risk divisions. Joe Coghlan and Lindy Adams from Bishop Fleming praised the successful outcome, noting that the deal positions City Financial Planning for a robust future within the Advanta group and sets the stage for continued growth.