Towergate Financial has acquired John Charcol following the mortgage broker’s move into administration.

Under the terms of the deal, all John Charcol staff and directors will be making the move to Towergate Financial. John Charcol CEO John Garfield will work with Towergate Financial CEO Ian Darby to grow the business alongside his current management team. Towergate is looking to establish a mortgage brokerage for its high net worth clients.

Ian Darby said: “We believe there is an excellent fit between our business and John Charcol. John Charcol has an incredibly strong brand built over many years