The Latest In Wealth Management M&A – Ascot Lloyd, Aberdeen Financial Planning

The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Ascot Lloyd, Aberdeen Financial
Planning

Ascot Lloyd, a
UK financial advice firm, has entered into an agreement to
acquire Aberdeen
Financial Planning, subject to regulatory approval.

The acquisition of AFP, which is a part of Aberdeen Group’s
Interactive Investor, adds a further 6,300 clients and £3.6
billion ($4.85 billion) of assets under advice – taking the
respective totals to almost 44,000 and £14.5 billion. The deal
will also see almost 60 advisors joining Ascot Lloyd, bolstering
its distribution presence across the UK and taking total advisor
headcount to over 220.

As well as adding geographic scale, the acquisition will help to
accelerate Ascot Lloyd’s growth in both the high net worth
category, and in the younger client segment, where Ascot Lloyd
can use AFP’s advice offering. 

“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,” Francis Jackson, chief
executive officer at Ascot Lloyd, said. “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.”

The deal follows the firm”s recent appointment of Eden
Scrivenger as its chief technology
and operations officer, subject to regulatory approval. The
new role brings together Ascot Lloyd’s technology and client
services and operations teams, with the aim of embedding
technology into the fabric of its operations. 

UK-based Ascot Lloyd is an independently-owned IFA UK firm, with
about £11 billion in funds under advice. The group provides
financial planning, wealth management and corporate benefit
solutions through over 150 IFAs serving more than 37,000 clients.
Employing over 600 staff, the business operates from 26 locations
nationwide and is supported by Nordic Capital, a European private
equity investor. 

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