Ascot Lloyd has acquired six adviser firms which have collectively added £1.2bn in funds under management to the consolidator.
The IFAs acquired in the first half of this year included Kemble Warwick, Corporate Benefits Consulting, Gregory Adam Financial Management, Fitzroy Wealth Management and Ring Associates.
The deals add approximately £8m in annual revenue and more than 2,300 clients to Ascot Lloyd, alongside 24 IFAs.
The additional IFAs further expand Ascot Lloyd’s national footprint, with new offices in Glasgow, Romsey Hampshire, Portishead and Kings Lynn.
Nigel Stockton, chief executive officer of Ascot Lloyd, said: “Ascot Lloyd continues to be one of the fastest growing IFAs in the UK, and these six businesses add to our already extensive national footprint. We now have over 18,000 clients serviced by our 18 offices.
“Critically, we are continuing to identify high-quality businesses that match our culture and values. For prospective IFAs, they are joining a business that can significantly alleviate the regulatory and compliance burdens they face, allowing them to increase time spent on their core role – advising clients.”
Gordon Kerr, acquisitions director at Ascot Lloyd, added: “I am also pleased that, despite the market environment, we have been able to continue the momentum with which we ended 2019, having added seven high quality IFAs last year.
“Our strong balance sheet means we remain well positioned to continue to deliver on our growth strategy and we remain encouraged by the opportunities presented by our acquisition pipeline.”
Ascot Lloyd now has £8bn of funds under influence serviced by over 130 advisers.
amy.austin@ft.com
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