McHardy Group has acquired financial advice company Tom Munro Financial Solutions for an undisclosed sum.
The deal adds £52m ($63m, €62m) to its assets under management.
This follows acquisitions of Wishart Wealth Management and Peebles Financial in recent years. The three firms, along with McHardy Financial, make up the McHardy Group.
The immediate plan is to rebrand Tom Munro Financial Solutions, Wishart Wealth Management and Peebles Financial to all operate under the same name – McHardy Private Wealth.
The three companies will officially merge by the end of the year, whereas McHardy Financial will continue to operate separately. The head office for McHardy Private Wealth will be in Edinburgh.
Andy Kerr, managing director of the McHardy Group, said: “I have known Tom for a number of years, and we have always got on very well, but it was 12 months ago that Tom approached us and started discussions about the acquisition. It felt like the final piece of the jigsaw in terms of the McHardy Group.
“We are very conscious that that client comes first in all of this. No changes will be made to any client’s platforms, investments or charging structures during the rebrand, and the managing directors of each of the firms will remain in their roles.”
