Monetary Planning agency Ascot Lloyd has purchased Swansea-based IFA Portfolio Monetary Consultancy which has £323m property underneath administration.
The deal for the entire enterprise was for an undisclosed quantity.
On its web site Portfolio Monetary Consultancy informed its purchasers: “Portfolio Monetary Consultancy Ltd has turn out to be a part of Ascot Lloyd, who’re one of many UK’s main Unbiased Monetary Recommendation corporations.”
Portfolio was based as an IFA in Swansea in 1999 and has grown to 19 employees who will all turn out to be a part of Ascot Lloyd, though they are going to stay of their current Swansea workplace.
Ascot Lloyd was arrange in 2003 and has round £10bn in funds underneath affect and offers Monetary Planning, wealth administration and company profit options to greater than 20,000 purchasers.
It has greater than 500 employees in 17 UK areas and has seen continued progress underneath its present administration crew, led by Nigel Stockton.
Mr Stockton stated: “We give attention to the significance of Monetary Planning, not simply monetary recommendation. As a quickly rising nationwide agency we now have alternatives throughout the nation which allow our workers to work flexibly with the expertise and assist behind them.”
European personal fairness agency Nordic Capital acquired Ascot Lloyd from US-based Oaktree Capital Administration for an undisclosed sum final October.
Earlier than then Ascot Lloyd acquired quite a lot of Monetary Planners throughout the nation, together with Kemble Warwick, Company Advantages Consulting, Gregory Adam Monetary Administration, Fitzroy Wealth Administration and Ring Associates in 2020.
In August 2021 it accomplished the acquisition of Aberdeen-based Central Funding Providers, a couple of months after securing funds from Ares Administration Company to extend its capital out there for acquisitions to over £100m.