Clifton Asset Management has bought Caerphilly-based financial advice firm Mark Philips Ltd for an undisclosed sum.
The deal has boosted the Bristol-based financial services firm’s assets under management (AuM) to over £1bn ($1.11bn, €1.14bn).
This is Clifton Asset Management’s third acquisition in just three months, as its ‘buy and build’ M&A strategy continues to accelerate since receiving funding from independent asset manager Boost & Co in July.
Mark Phillips of Mark Phillips Ltd is an IFA with over 40 years of industry experience. The acquisition of Mark Phillips Ltd adds more than 250 clients with AuM of £40m to Clifton’s portfolio.
Phillips will continue to support with the transition of clients to Clifton.
More deals ahead
Anthony Carty, group financial planning director at Clifton, said: “We are particularly thrilled to be working with Mark and his clients. His client focus and commitment to great outcomes mirrors our philosophy at Clifton.
“Whilst Mark will be working with us for a couple of years to help transition clients over to Clifton, we hope that after all his years of providing a dedicated service to clients, he can move into retirement knowing that his clients are being very well looked after by the Clifton team.
“This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned. We aim to complete on several other acquisitions in the early part of 2023.”
Since July 2022, Clifton has acquired three financial advisory firms – Burnett & Reid Wealth Management, Noble James Associates, and now Mark Phillips Ltd.
