UK-based Advanta Solutions has completed three acquisitions in Scotland and opened an office in Dundee.
SMG Financial Options, Ann Bellingham Financial Services and M&I Independent Financial Services have bolstered Advanta’s footprint in Scotland adding to the existing business based in Glasgow.
The deals add £100m ($112m, €116m) in assets under management to the group. The financial terms of the deals were not disclosed.
The acquisitions come over a year after Beech Tree Private Equity agreed a deal with Advanta Solutions to provide funding for the business to pursue “a multiple acquisition strategy”.
Craig Webster, chief executive of Advanta, said: “As we continue to grow our business across the UK, we are delighted to have three fantastic businesses join our team and reinforce our commitment to delivering advice in Scotland.
“With the new Consumer Duty coming into effect in July next year, firms everywhere are considering the needs of their customers and understand that joining Advanta, where we have a wider range of products and services, is a core requirement for providing financial advice now and in the future.
“Raising the standards of advice and service in the UK is central to our strategy of creating a professional environment for our clients.”
With offices in London, Glasgow, Esher and Dundee, the Advanta group of companies offer financial planning services to its clients across the UK through Advanta Wealth, Advanta Mortgages and Advanta Risk.
