Edinburgh-based IFA Johnston Financial is on the verge of completing a two-year management buyout (MBO) to help boost the business as it aims to double in size.
The firm is set to complete the MBO process in October, which it said would accelerate a period of "ambitious growth" in a bid to double the size of the business. Johnston Financial said it has plans to reach £1bn of assets under management (AUM) within the next five years. The firm currently has more than £420m AUM. The MBO will also see founder and chairman Adrian Johnston sell his remaining 27% stake in the 32-year-old company to business partner John McArdle, who became managing director in May 2018. As a result, McArdle, who joined the business back in 1997 as a financial pla...
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