Leonard Gold Financial Management has been acquired by Bristol-based Clifton Asset Management following an introduction from Gunner & Co.
Leonard Gold, based in Southsea, Portsmouth, is the newest firm to join Clifton’s plan to build “centres of excellence”, following Clifton’s purchase of Plan for Life Wealth Management in June. Gunner & Co. work with CAM on these targeted acquisitions of smaller advice firms within certain hubs which will allow them to compete with larger rivals.
Clifton is currently considering external funding to support their acquisition strategy.
Anthony Carty, financial planning director of Clifton, commented: “These smaller advisory firms are finding current and foreseeable regulatory pressures such as Mifid and the senior managers regime are making life more and more difficult for them.
“They can see that joining forces with a larger firm with great technology and deeper resources makes eminent sense.
“Whilst we can continue to make modest progress with our consolidation plans via our own resources, we’ve had many very positive conversations with advice businesses, and with a strong pipeline developed, it is now our intention to significantly accelerate those plans and this will require an external funding partner.”
Leonard Gold’s principal adviser, Nas Khan, says: “We met with a variety of differing potential acquirers and we felt that the flexible approach that Clifton offers suited our business well.
“Clifton’s client centric approach and the various tools it has at its disposal, including pension provider Morgan Lloyd, a low cost investment platform and recently launched DFM, Eden Park, leaves me confident that our clients will be well looked after.”
Gunner & Co. work closely with Clifton Asset Management, if you would like to know more about their proposition contact email@example.com
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