News

27
Aug

Ascot Lloyd strengthens presence in Aberdeen

Ascot Lloyd has acquired Central Investment Services, an Aberdeen-based financial planner.

The deal adds eight IFAs and £761m in funds to Ascot Lloyd. Significantly, the acquisition will strengthen Ascot Lloyd’s presence in Scotland, making it one of the largest advice firms in Aberdeen.

Ascot Lloyd chief executive, Nigel Stockton, said:

“Ascot Lloyd continues to be one of the fastest growing IFAs in the UK. The acquisition of Central Investment adds to our already extensive national footprint.

“We are extremely happy that we have been able to continue the momentum with which we ended 2020. Meanwhile, our strong balance sheet means that we remain well-positioned to continue to deliver on our M&A strategy. Critically, we are continuing to identify high-quality businesses that match our culture and values.”

“For Central Investment, it is joining a business that can sufficiently alleviate the regulatory and compliance burdens smaller firms face, therefore allowing them to increase time spent on their core role – advising clients.

“Scotland is of huge importance to us, and we are delighted to have further grown our presence here.”

Derek Robertson, managing director of Central Investment, commented:

“Joining with a national firm such as Ascot Lloyd means we have the support behind us so we can continue to grow and serve our local community in Aberdeen.

“It was important for us to find a partner that aligns with our culture and ethos. Through Ascot Lloyd we have found a perfect match.

“We look forward to working with our new colleagues to continue to offer the high-quality service that has underpinned Central Investment as a well-respected advisory business in Aberdeen.”

The deal comes soon after Ascot Lloyd secured funding from Ares Management Corporation.

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