Clifton AM acquires B&R with funds from backer

Clifton Asset Management has acquired Burnett & Reid Wealth Management, an advice firm based in Aberdeen, strengthening its presence in Scotland.

The deal will bring £180m assets under management to Clifton AM, bringing the Bristol-based financial consultant’s total AUM to £860m. 

Burton & Reid’s director, Colin Morgan, commented: “Clifton has a like-minded attitude to client care to us. 

“Yes, they are a larger firm offering comprehensive technical innovation that is difficult to achieve as a smaller entity, however our final decision was based on getting to know their team and seeing their commitment to fairness in their dealings with us, and ultimately, the clients.”

Clifton AM’s financial planning director Anthony Carty, said: “Colin and John at B&R have built an excellent business providing a first-class financial planning service to their clients and professional connections.

“We are delighted to welcome the B&R team to the Clifton family and will ensure that their clients continue to receive great advice – which is so important in these challenging times.”

The transaction comes after Clifton AM secured funding from Boost&Co to support their external growth. 

“These are exciting times for all concerned,” Mr Carty continued, “In addition to creating jobs and accelerating growth, the recent first round of funding will also enable us to continue our technological innovation, ensuring that we continue to lead the way with our technology-forward approach.

“We have a growing pipeline of potential acquisitions, and we hear from ongoing conversations that our proposition is forward thinking and compelling. We are happy to explore options with other firms thinking about their exit strategy.”

If you are looking to make an acquisition, find out how Gunner & Co. can help you find the perfect vendor. Check out our online brochure for buyers here.

Louise Jeffreys is managing director of Gunner & Co, an IFA broker with values based on strong relationships built on trust, credibility and value.

Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.