Ascot Lloyd acquires Aberdeen-based firm and posts £30m loss

The Scottish firm will also add eight IFAs and a team of support staff to Ascot Lloyd. The announcement of the acquisition came on the same day the national Ascot Lloyd posted a £30m loss in its annual accounts for 2020. It blamed the impact of the Covid-19 pandemic, a lack of new business and fluctuating equity markets for the loss. The firm also highlighted administrative costs from two of its 12 acquisitions in 2020, which it said added to its difficulties, those of Calculis Financial Planning and Fitzroy Wealth Management. In February, Ascot Lloyd received additional private eq...