Ascot Lloyd to complete eight acquisitions before 2020
To add £1.2bn FUM
National IFA firm Ascot Lloyd had said it has agreed terms of eight acquisitions that will complete before the end of the year.
The firm recently completed a double acquisition by purchasing Stockport-based Prest Financial Planning and Bromsgrove-based QS Financial. Those two deals added an accumulative £400m in assets under management.
Ascot Lloyd said its acquisition pipeline of eight firms will add a further 20 advisers, £15m of revenue and £1.2bn of funds under management. The national firm currently has £7.5bn funds under influence, 100 financial advisers and 12,500 clients.
CEO Nigel Stockton said: "The outlook for our business has never been so positive, currently of the approximately £600 billion of IFA funds across the UK, nearly two-thirds are advised by small, stand-alone IFAs.
"The challenges facing these smaller firms is well known and we believe that this will continue to drive an acceleration of consolidation as smaller businesses look to find homes that can better support them and their clients."
He added: "This presents a significant opportunity to Ascot Lloyd, enabling us to leverage our proven track record in integrating businesses, our purpose-built platform and our commitment to giving advisers the support they need to acquire high quality IFAs."
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