SYS Financial hits €1bn threshold with latest acquisition

A financial services firm founded by former Tipperary hurler Tony Delaney says it has reached €1 billion in assets under management (AUM) following the acquisition of Wexford-based IRS Financial Services.

SYS Financial has been on a rapid expansion path over the last two years. The latest acquisition is the company’s fifth since January, “with additional transactions currently under discussion”, it said.

In addition to acquisitions, SYS Financial said it had “achieved substantial organic growth” on its way to having €1 billion AUM.

The company also recently added to its Nenagh headquarters in Co Tipperary by opening offices in counties Dublin, Cork and Limerick.

Hiring a car abroad: The dos and don’ts for holidaymakers this summer

Inside the Irish factory at the centre of the global weight-loss revolution

Six out of ten new jobs filled by foreign nationals - but what happens now as employment slows?

Are Ryanair’s shares a ‘bargain’ as some analysts suggest?

“Reaching €1 billion in assets under management is a significant milestone for SYS Financial and reflects the trust our clients place in us to guide some of the most important financial decisions in their lives,” said Delaney, the company’s chief executive.

“Our growth has been built on a combination of strong client relationships, disciplined acquisitions and continued investment in the people and infrastructure needed to support clients over the long term.”

SYS was founded in 2015 by Delaney (54), who spent more than two decades with New Ireland as a financial adviser and a regional sales manager. He is the controlling shareholder alongside his wife, Elaine.

In March, it announced it had added three more financial planning practices to its stable: BMC Financial Planning, based in Cork; the Waterford city firm Billy Phelan Financial Services and the Co Wicklow business of financial planner Brendan Toolan.

[ SYS Financial eyes €1.3bn in client assets after fresh acquisitionsOpens in new window ]

The latest acquisition, IRS Financial Services, which is based in Enniscorthy, was founded in 2012 and manages approximately €115 million in client assets.

“Joining SYS Financial represents an exciting opportunity for our clients and our team,” said IRS chief executive Ciaran Donegan.

“We share a strong client-first philosophy, and becoming part of a larger, growing organisation will allow us to enhance the breadth of services and support we provide, while maintaining the personal relationships our clients value.”