Milecross Financial, has acquired Dundee-based Osprey Financial Services in a deal which adds £30m of assets and around 600 clients to the national advice firm.
Osprey Financial Services is a long-established practice offering advice across pensions, investments, mortgages, and protection.
The business will be fully integrated under the Milecross umbrella with all staff retained and clients transferred.
Chris Thorndycraft (pictured), chief commercial officer at Milecross, said: “Knowing which acquisition opportunities to pursue is never easy, however, the cultural and geographical fit, plus the great people at Osprey, made this an easy decision for us.”
“Their holistic approach, across all advice areas, mirrors ours, which will ensure a smooth integration between the two businesses.”
Osprey Financial Services Principal, Mike Smith added: “There was already a good working relationship between the two businesses, and the geographical fit was obvious. Milecross’ track record, having completed a large number of acquisitions in the recent past also provided us with tremendous comfort that the deal would be completed smoothly.”
Acquisitions in the pipeline
Paul Dalzell, founder and chief executive officer at Milecross, said: “Milecross has acquired over a dozen practices over recent years and we expect to complete three or four further acquisitions in 2024, adding around £250 million of assets under management. Vendors are attracted by our national presence, straight-talking approach and ability to deliver on our promises.”
Milecross provides financial advice throughout the United Kingdom with over 90 advisers and 30 locations providing advice to clients on the full range of product areas, including pensions, investments, protection, and mortgages.
Milecross has around £450m of assets under management and arranges circa £500m of mortgage lending per annum.
