Co Kerry-based financial planning and wealth management firm Gallivan Financial has agreed a deal to buy Dublin-based Doyle Pension & Insurance Management for an undisclosed sum.
Today's deal means that Gallivan Financial has added six new businesses to the group since May 2023 and the Doyle purchase means that it is now the largest fully Irish owned wealth and pensions advisory firm in the country.
Gallivan's recent organic growth combined with this recent deal, now brings the company's total assets under management to more than €1.3 billion in total. The company has plans to grow the business further in order to expand its assets under management to more than €2 billion in the near future.
Gallivan Financial is majority-owned by the Gallivan family, who sold its Gallivan Murphy Insurance Brokers (GMIB) business to US-based Assured Partners in 2022. Gallivan Financial was not part of that deal and is currently engaged in a significant expansion strategy.
Further acquisitions are anticipated for 2026.
Doyle Pension & Insurance Management has about 3,000 customers and now manages €260m in assets on behalf of private clients and businesses across Dublin and the surrounding region.
Since 2023, Gallivan Financial has bought Killarney-based Vincent Casey Life & Pension, Limerick's FJ Hanly, Dublin's Mount Street Group, Tralee's Kelly O'Shea Pensions & Financial Services and Tara Financial, which is based in Dublin.
Fergal Smith, Gallivan Financial Managing Director, said that reaching the €1 billion AUM milestone is a defining moment for the business and reflects the strength of its team, its strategy, and the trust placed in it by clients and partners.
"Doyle Pension & Insurance Management brings deep technical expertise and long-established client relationships, making this an excellent fit as we continue to expand our Dublin footprint and national presence," Mr Smith said.
"We have made three acquisitions in the Dublin market in less than 12 months, and we see significant additional scope for consolidation within the wealth management sector in Dublin and across the Irish economy," he added.
Doyle founder and chief executive Stephen Doyle said it was important for the firm to find a partner that shared its values and could support the next phase of its business growth.
"The Gallivan Financial client-first approach and their investment in people and long-term vision, made them the ideal partner for our clients," he said.
"I am confident that this move will maintain the ongoing service we provide while preserving the professional standards that our clients receive. Together, we will continue to deliver personal financial planning advice with the support of expanded resources and a shared commitment to long-term client success," he added.
