Insurance team heads to York to drive growth plans with Townends

(Story taken from The York Press)
A TEAM of insurance brokers is relocating to York in a bid to drive growth through a joint venture with one of the city’s accountancy firms.
Townends Chartered Accountants, on the junction of Heslington Lane and Fulford Road, is welcoming a new team from insurance broker JM Glendinning, 12 months after the firms joined forces to create JMG Townends.
After a year based at JM Glendinning’s headquarters in Guiseley, the JMG Townends team is now moving to York in a bid to reposition the venture to support Townend Accountant’s clients, and double the size of the insurance operation over the next two years.
JM Glendinning managing director, Nick Houghton, said: “The joint venture was established because we saw reciprocal growth opportunities with a firm we knew and respected.
“The broking business was originally part of Townends Accountants, and now, with JM Glendinning as its joint venture partner, the business has wider access to insurers and greater buying power to source competitive insurance products and services for its customers. And by relocating the team to the Townends’ York office, they will be well placed to support Townends’ accountancy clients, too.”
Adam Verney is managing director of JMG Townends, and will be joined in York by director David Fryer.
Mr Verney said: “Becoming part of an established and well respected insurance group that is also one of the UK’s Top 100 brokers enhances our credibility and will help us achieve our ambitious growth plans.”
The insurance operation is the latest joint venture expansion for Townends.
In 2011 the firm created PFM Townends, offering financial services for dental practices, after teaming up with York-based Practice Financial Management (PFM).
Its latest partner JM Glendinning, founded in 1972, is now a group consisting of eight companies spanning insurance broking, financial services, employment law, health & safety and recruitment services.
It employs more than 130 staff, with an income in excess of £8million, with businesses in West Yorkshire, South Yorkshire, East Yorkshire, the North East and Midlands.
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