Parent company of Limerick finance firm makes capital gains

THE PARENT company of city centre financial firm FJ Hanly and Associates is to expand into Dublin for the first time.

Gallivan Financial of Killarney, which acquired FJ Hanly, which is based at the Riverpoint Complex, is making ‘capital’ gains.

This is because it is buying Mount Street Group, based in Sandymount, on the Dublin coast.

It is also acquiring Kelly O’Shea Pensions and Financial Services.

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The value of both deals remains undisclosed.

But Gallivan Financial said the tie-ups will increase its ‘assets under management’ to more than €650m.

Assets under management refers to the market value of an investment managed by a person or entity on behalf of their clients.

With several additional deals currently in exclusivity, Gallivan says it is now on track to surpass €1 billion in ‘assets under management’ by the end of 2025.

Fergal Smith, Gallivan Financial managing director said: “We’re excited to welcome the Mount Street and Kelly O’Shea teams to Gallivan Financial. From the outset, it was clear that our shared values and commitment to client-focused advice were strongly aligned. Our integration plan is centred around continuity - clients will continue working with the same trusted advisors, while benefiting from the broader resources, technology, and expertise of our combined teams.”

Gallivan Financial is majority-owned by the Gallivan family, who previously sold Gallivan Murphy Insurance Brokers (GMIB) to U.S.-based Assured Partners in 2022.

Gallivan Financial was not part of that transaction and has now embarked on a significant growth trajectory.

Gallivan Financial has made four acquisitions since May 2023.

“We see very significant opportunities for consolidation within the sector in the short to medium term,” Mr Smith added.

Limerick’s FJ Hanly and Associates has more than 700 clients and approximately €100 million in ‘assets under management’.