UK-based Ascot Lloyd has completed a further six acquisitions in the first half of 2020, which builds on the group’s seven deals in 2019.
The IFA firm has bought a number of firms including; Kemble Warwick, Corporate Benefits Consulting, Gregory Adam Financial Management, Fitzroy Wealth Management and the previously-announced Ring Associates.
The acquisitions collectively add £1.2bn ($1.49bn, €1.33bn) in funds under influence, approximately £8m in annual revenue and over 2,300 clients.
The additional 24 IFAs also further expand Ascot Lloyd’s national footprint, with offices now in Glasgow, Romsey, Portishead and Kings Lynn.
Nigel Stockton, chief executive of Ascot Lloyd, said: “We are continuing to identify high-quality businesses that match our culture and values.
“For prospective IFAs, they are joining a business that can significantly alleviate the regulatory and compliance burdens they face, allowing them to increase time spent on their core role – advising clients.”
Gordon Kerr, acquisitions director at Ascot Lloyd, added: “I am also pleased that, despite the market environment, we have been able to continue the momentum with which we ended 2019, having added seven high quality IFAs last year.
“Our strong balance sheet means we remain well positioned to continue to deliver on our growth strategy and we remain encouraged by the opportunities presented by our acquisition pipeline.”
Ascot Lloyd now has over £8bn of funds under influence serviced by over 130 advisers.