Ascot Lloyd has bought Swansea-based Portfolio Financial Consultancy for an undisclosed sum.
The deal, which sees Ascot Lloyd acquire the whole business, will add £323mn assets under management to the group.
Portfolio Financial Consultancy was founded as an IFA in 1999 and has 19 staff who will all move over to be part of Ascot Lloyd.
FTAdviser understands the team will continue to be based in Swansea in their existing offices.
Nigel Stockton, chief executive officer of Ascot Lloyd, said: “Ascot Lloyd is a dynamic and progressive company. We focus on the importance of financial planning, not just financial advice.
“Ensuring you are confident in the advice we provide is essential and we never take for granted the privileged position this puts us in.
“As a rapidly growing national firm we have opportunities across the country which enable our employees to work flexibly with the technology and support behind them.”
In March, Ascot Lloyd launched its own adviser platform with the help of technology provider SS&C.
The platform, which integrates with Intelligent Office, includes “a full suite” of tax wrappers and boasts a “default paperless journey” for clients.
sonia.rach@ft.com
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