Towergate Financial has acquired the financial planning business of the Melton Mowbray Building Society.
This will see Towergate put an in-house adviser into each of the building society's three branches.
It said the move would ensure Melton Mowbray's customers receive regulated financial advice following the implementation of RDR.
Towergate would not disclose the amount paid for the business but will receive all legacy commission related to financial advice already given to an existing client base.
This is the fifth building society that Towergate has established a relationship with after deals with Nottingham, Loughborough, Scottish and Saffron.
It now has 55 advisers based in building society branches nationwide.
The drive to acquire building society business began in 2009 with Nottingham Building Society.
Dan Saulter (pictured), CEO of Towergate Financial, said: "Building societies increasingly recognise their core skill set is being a building society rather than offering financial advise and so are outsourcing this side of the business.
"Towergate is continuing to look for more opportunity in this sector."
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From 1 March