Reading-headquartered IFA company Ascot Lloyd has bolstered its operation with the acquisition Kings Lynn-based Ring Associates.
The financial terms of the deal were not disclosed.
Ring Associates has provided a range of financial planning and wealth management services to the local community for 18 years through its 12 advisers.
The firm has £382m ($472m, €430m) of funds under management.
Ascot Lloyd now has £8bn funds under influence, 130 advisers and 18,000 clients across the UK.
M&A activity
Nigel Stockton, chief executive of Ascot Lloyd, said: “Critically, we are focused on adding high-quality businesses that match our culture and values.
“For prospective IFAs, they are joining a platform that can significant alleviate the regulatory and compliance burdens they face, allowing them to increase time spent on their core role – advising clients.”
Ascot Lloyd’s most recent M&A activity was in September 2019, when it bought Stockport-based Prest Financial planning and QS Financial in Bromsgrove.
In March 2020, Ascot Lloyd hired Gordon Kerr from Deloitte to join as acquisitions director, in a bid to pursue more M&A deals.
