UK wealth manager Mattioli Woods has bought Glasgow-based financial planning firm The Turris Partnership in a deal worth up to £1.6m ($2.08m, €1.88m).
The deal adds over £65m in assets under advice.
All five members of the Turris team will move into Mattioli Woods’ Glasgow office in Q1 2020.
The Turris Partnership was set up by managing director Brian Steeples in 2003.
In 2005, Steeples became the first president of the Personal Finance Society (PFS).
Ian Mattioli, chief executive of Mattioli Woods, said: “We put a great deal of thought into any acquisition that we consider, as it is so important to make sure it is a good cultural fit.
“It is an important acquisition for us, as we have been looking to expand our operations in Scotland, and opportunities to acquire such a well-respected business don’t come along every day.”