Ascot Lloyd, one of the UK’s fastest-growing financial advice firms, is pleased to announce that it has entered into an agreement to acquire Aberdeen Financial Planning [“AFP”], subject to regulatory approval.
The acquisition of AFP, which is a part of Aberdeen Group’s Interactive Investor, underpins Ascot Lloyd’s ambitions to become one of the UK’s leading financial advice providers, cementing its current top 10 position – both by assets under advice and adviser headcount.
The acquisition materially builds on Ascot Lloyd’s national footprint, adding a further 6,300 clients and £3.6bn of assets under advice – taking the respective totals to almost 44,000 and £14.5bn. The deal will also see almost 60 high-quality advisers joining Ascot Lloyd, bolstering its distribution presence across the UK and taking total adviser headcount to over 220.
As well as adding geographic scale, the acquisition will also help to accelerate Ascot Lloyd’s growth in both the ‘high-net-worth’ category, and in the ‘younger client’ segment, where Ascot Lloyd can leverage AFP’s strong advice offering.
Francis Jackson, Chief Executive Officer at Ascot Lloyd, said:
“This is an important milestone for us and one that signifies the ambition we have to establish Ascot Lloyd as one of the UK’s leading providers of financial advice. Aberdeen Financial Planning is an excellent business that brings with it high-quality advisers, national coverage and above all, a culture that matches our own. The acquisition takes our total client coverage to almost 44,000 across the UK, and we see a significant amount of value in the client profile that Aberdeen has typically served – at both ends of the asset value spectrum. This acquisition meaningfully increases our scale, capabilities and expertise and will further support our continued growth – both organically and inorganically – while excelling in our delivery for clients. We look forward to working with our new colleagues and clients and building on the strong foundations we have in place”.
