Ascot Lloyd chief executive Nigel Stockton has revealed the firm has eight potential IFA purchases in the pipeline. This comes only a month after Gunner & Co. supported Ascot Lloyd in the acquisition of QS Financial in addition to buying Prest Financial Planning, which together contributed £415m in assets under advice.
The company now has over 12,500 clients, as well more than £7.5bn in funds under influence.
Mr Stockton commented on Ascot Lloyd’s ambition to consolidate smaller IFAs: “The outlook for our business has never been so positive, currently of the approximately £600bn of IFA funds across the UK, nearly two thirds are advised by small, standalone IFAs.
“The challenges facing these smaller firms is well known and we believe that this will continue to drive an acceleration of consolidation as smaller businesses look to find homes that can better support them and their clients.
“This presents a significant opportunity to Ascot Lloyd, enabling us to leverage our proven track record in integrating businesses, our purpose-built platform and, our commitment to giving advisers the support they need to acquire high quality IFAs.
“In many ways 2018 was a transformational year for Ascot Lloyd as we solidified our operations under a single brand, further invested in our platform and continued to execute on our acquisition strategy.
“The strong top and bottom-line growth is a powerful demonstration of our strategic progress, the commitment and dedication of our people and the long-term health of our business.”
Ascot Lloyd posted an increase in profit of over 30% in its annual results, as well as increasing revenues by a fifth.
Gunner & Co. is proud to be representing a number of firms in Ascot Lloyd’s pipeline. If you would like to know more about their proposition for business sellers contact firstname.lastname@example.org
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