The advice arm of Scottish law firm Gilson Gray has acquired Edinburgh-based Sarah Hughes Wealth Management for an undisclosed sum.
The deal takes Gilson Gray Financial Management’s (GGFM) total assets under management to nearly £500m ($600m, €564m), which is a 40% increase in 12 months.
The purchase of Sarah Hughes Wealth Management is GGFM’s first in 2023 and forms part of a continued expansion programme of strategic acquisitions and organic growth over the next few years. The St James’s Place (SJP) partner firm’s most recent acquisition was in September 2022 when it bought North Berwick-based Wallace Financial Planning.
Sarah Hughes Wealth Management has been a senior partner practice of the SJP network since 1997. Sarah Hughes, a chartered financial planner with nearly three decades of experience, and her team will join the GGFM fold.
Steve Herkes, managing director of GGFM, said: “I have known Sarah for several years, she has a reputation as a high quality financial planner with a huge focus on tailoring services to her client’s needs.
“She will be a great addition to our team, mentoring more junior colleagues and helping to develop our private client proposition. At the same time, her clients will benefit from access to a wider range of financial, property, and legal services, so the acquisition is the perfect fit for both businesses.
“Bringing Sarah Hughes Wealth Management on board is the first in a series of deals we hope to conclude in 2023, which will increase our presence and offering across Scotland, building on a very active past couple of years.”
The deal is also Gilson Gray’s second of the week, following the parent company’s acquisition of The Law Practice in Aberdeen to bolster its private client offering.
