IFA Johnston Financial on verge of completing two-year management buyout

Plans to double size in five years

Sophie King
clock • 1 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

The Penny Group acquires Midlands-based HNW advice firm

The Penny Group acquires Midlands-based HNW advice firm

Latest deal as part of the Chartered firm’s ‘buy and build’ strategy

Isabel Baxter
clock 12 March 2024 • 2 min read
FCA fines advice firm nearly £900,000 over British Steel failings

FCA fines advice firm nearly £900,000 over British Steel failings

IFM ‘poorly advised’ clients to transfer out of DB pension schemes

Isabel Baxter
clock 11 March 2024 • 2 min read
Swindon advice firm declared failed by FSCS for pensions advice

Swindon advice firm declared failed by FSCS for pensions advice

A.P Financial Services UK is no longer trading

Isabel Baxter
clock 11 March 2024 • 1 min read