IFA firm Ascot Lloyd has acquired six new businesses in the first half of this year.
Despite the Covid-19 lockdown, the firm has snapped up firms that add £1.2bn to the funds under influence, and around £8m to Ascot Lloyd’s annual revenue. In total the company now has £8bn of funds under influence.
The firms acquired are Kemble Warwick, Corporate Benefits Consulting, Gregory Adam Financial Management, Fitzroy Wealth Management and Ring Associates.
In total 24 financial advisers work across these firms, which service 2,300 clients. This latest activity follows on from the seven acquisitions Ascot Lloyd made in 2019.
Ascot Lloyd now has a national footprint with offices in Glasgow, Romsey Hampshire, Portishead and Kings Lynn.
Ascot Lloyd chief executive Nigel Stockton says: “Ascot Lloyd continues to be one of the fastest growing IFAs in the UK, and these six businesses add to our national footprint.
“We now have over 18,000 clients serviced by our 18 offices. Critically, we are continuing to identify high-quality businesses that match our culture and values. For prospective IFAs, they are joining a business that can significantly alleviate the regulatory and compliance burdens they face, allowing them to increase time spent on their core role – advising clients.”
Ascot Lloyd acquisitions director Gordon Kerr adds: “I am also pleased that despite the market environment, we have been able to continue the momentum with which we ended 2019. Our strong balance sheet means we remain well positioned to continue to deliver on our growth strategy and we remain encouraged by the opportunities presented by our acquisition pipeline.”