Financial planning firm accepts £258m takeover deal

Founded in 1989, Jelf has 37 offices across the UK and provides advice to over 100,000 businesses and individuals on matters relating to insurance, healthcare, employee benefits and financial planning.

Marsh said that the move will further develop the group's ability to expand the services it provides UK SMEs, following its recent acquisitions of Leeds-based SMEi Insurance Services and Aberdeen-based Central Insurance Services.

Commenting on the announcement, Mark Weil, the Marsh group's CEO for UK & Ireland, said:

"Jelf and the Marsh group are highly complementary businesses, both in terms of business and values. This transaction underlines our commitment to set the standard for advice and products that meet the risk, financial services and insurance needs of individuals and companies of all sizes across the UK. We have the highest regard for the management and team at Jelf. The Jelf team will be a huge asset for us and, together, we will provide the market-leading suite of solutions to our clients. We look forward to welcoming Alex and his team to the Marsh group."

Alex Alway, CEO of Jelf Group plc, added:

"I am extremely proud of the business that we have built since Jelf was founded in 1989. Every one of our colleagues has contributed to our deserved reputation for developing long-lasting, trusted adviser relationships with our clients. As our clients' needs have continued to evolve, the Board and executive management team have given much thought about how best we meet their growing expectations. At the same time, we want to ensure that our colleagues are given the greatest opportunities to develop their careers. I am confident that this transaction is great news for our clients and colleagues alike."