Dorset-based Harvard Financial Management has been acquired by Ascot Lloyd, the national IFA firm which specialises in financial planning, wealth management and corporate benefit solutions.
Harvard worked with the independent financial services M&A brokerage and consultancy Gunner & Co to identify the right buyer for a business which is 20-years old and whose management team wanted to join a larger firm and grow.
This deal forms part of Ascot Lloyd’s strategy to increase its national presence and boost its services in the South of England. Operating out of Christchurch, Dorset, Harvard is a well-established brand in the region and it will continue to offer advice on pensions, investment, wealth management, financial planning and life insurance services to private clients.
CEO of Ascot Lloyd Richard Dunbabin said: “We are pleased to be expanding on the South Coast with an acquisition which adds significant potential for us to grow the services we provide in the area. This is a strategically significant acquisition, which complements our proposition with considerable expertise in specialist areas of advice such as pension transfers.
“Harvard boasts an excellent client base and talented team of advisers and support staff. We remain acquisitive and will continue to look for similar businesses that can contribute to our mission of building the UK’s leading national IFA firm.”
Harvard Financial Management managing director Mark Werner said: “Ascot Lloyd shares our commitment to excellent client service and market-leading financial advice. This move will enable us to achieve economies of scale by utilising Ascot Lloyd’s impressive back office and central functions, freeing up more time for our financial advisers to focus on the quality of the solutions we offer. I look forward to working with our new, larger team to develop our business through a new period of growth.”
Managing Director of Gunner & Co Louise Jeffreys said: “We spent a significant time with the Harvard team, understanding their business and their aspirations, to make the best possible introduction.”
The firm will now trade as Harvard Financial Management, part of the Ascot Lloyd Group. Advisers from Ascot Lloyd will join the Harvard team and offer a full range of services across the region.
