Financial services group IFG has bought the assets of two specialist corporate financial advisers in Britain for up to #1.75 million (£1.38 million). Both provide independent advice to high net worth individuals and limited companies.

IFG will pay £400,000 sterling (#685,871) for Townsend Rayner Associates. It may have to pay a further £200,000 sterling if certain targets are reached over the next three years.

The company also paid £317,500 sterling for J A Fairweather Associates, with a potential deferred payment of up to £100,000 (#127,000).