Adviser Services Holdings Limited (ASHL) has set up UK advice business Lync Wealth Management after it bought two wealth managers.
Sheffield-based Sheafmoor Money Management and Belfast-based North Financial Management will form the foundations of Lync Wealth Management with over £180m ($224m, €205m) assets under advice and 450 wealth clients.
The national advice business will sit alongside ASHL’s existing networks, Sense and Lyncombe, which provide support to over 400 advisers with over £7bn assets under advice.
Michael Couzens, chief executive of adviser support group ASHL, said: “The privately owned ASHL group continues to go from strength to strength and as we expand our offering to the adviser community, we see succession planning via acquisition or management buyout as key to providing future security to businesses for years to come.
“We are delighted to announce the launch of our national advice business Lync Wealth Management which complements our network and provides new options for firm owners who want an even closer relationship.
“Sometimes these arrangements are seen as the owner giving up control, our aim is to work in partnership without losing sight of the significant close relationship and experience that the teams in the businesses we acquire have developed with their clients.”
The financial terms of the deals were not disclosed.
