Ascot Lloyd has completed the acquisition of Aberdeen-based Central Investment Services (Scotland) for an undisclosed sum.
This builds on the group’s 12 acquisitions over the last year.
Central Investment provides financial planning and investment management services to both private and corporate clients across the region.
The acquisition adds £761m ($1.05bn, €887m) in funds under influence, eight IFAs, as well as a team of support staff to the Ascot Lloyd Group.
Nigel Stockton, chief executive of Ascot Lloyd, said: “Ascot Lloyd continues to be one of the fastest growing IFAs in the UK, and the acquisition of Central Investment adds to our already extensive national footprint.
“We are extremely pleased that we have been able to continue the momentum with which we ended 2020 and our strong balance sheet means that we remain well-positioned to continue to deliver on our M&A strategy. Critically, we are continuing to identify high-quality businesses that match our culture and values.
“For Central Investment, they are joining a business that can sufficiently alleviate the regulatory and compliance burdens smaller firms face, allowing them to increase time spent on their core role – advising clients. Scotland is of huge importance to us, and we are delighted to have further grown our presence here.”
