Bristol-headquartered Aspirations Financial Planning has bought Somerset-based Batcombe Financial Services for an undisclosed sum.
The sale of the business comes as both of Batcombe’s directors are retiring.
The deal will add more than £30m ($42m, €35m) in assets under management, as well as over 200 clients to Aspirations Financial Planning.
Andrew Leach, Batcombe Financial Services’ director, said: “Since 1999, we have been emphasising the importance to our clients of having retirement plans. We are now taking our own advice and retiring.
“After exploring various options, we feel Aspirations have the right business style for our clients wanting a personal service. We think our clients are going to be in safe hands.”
Adam Palmer, managing director of Aspirations, added: “Over the last couple of years, we have been focused on building a strong, knowledgeable team and a first-class investment and service proposition that we’re very proud of and are convinced of the benefits for our new clients.
“We look forward to getting to know each of them and welcoming them to Aspirations.”
