Clifton Asset Management has bought Stroud-based financial advice business Noble James Associates for an undisclosed sum.
This follows the recent acquisition of Burnett & Reid Wealth Management as the Bristol-based financial services firm continues to accelerate its ‘buy and build’ acquisition strategy. The Noble James Associates deal is Clifton’s second acquisition of 2022.
Established in 1999, Noble James Associates is a team of IFAs with each of its advisers having over 20 years of industry experience. The acquisition of Noble James, with their team of three advisers and assets under management of £130m, takes Clifton’s total assets under management to £970m ($1.1bn, €1.1bn).
Anthony Carty, group financial planning director at Clifton, said: “We are particularly thrilled to be working with the highly experienced team at Noble James. Their client focus and commitment to great outcomes mirrors our philosophy at Clifton. This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned.”
In July, Clifton received “significant first round funding” from independent asset manager Boost & Co to accelerate its ‘buy and build’ acquisition strategy, and the recent deal forms part of this strategy – where smaller advisory firms join Clifton by acquisition or appointed representative status.