Clifton AM acquires Mark Philips Ltd, taking its AUM to over £1bn

Clifton AM has acquired Mark Philips Ltd, a Caerphilly-based financial adviser. The deal adds £40m of assets under management to Clifton AM’s books, taking its total AUM past the £1bn mark.

The Welsh adviser is the third firm to be acquired by Clifton AM in as many months: it purchased Aberdeen-based Burnett & Reid Wealth Management in July, followed by Stroud’s Noble James Associates in September. The acquisition spree comes in the wake of the significant injection of funding received from Boost & Co to enhance the Bristol-based firm’s external growth strategy.

Mark Phillips, founder of Mark Philips Ltd, said: “I looked at a variety of options and talked to potential acquirers but after a very positive series of meetings I knew that Clifton was a good fit for my clients. 

“They are clearly very competent and having made multiple acquisitions they are very experienced in smoothly transitioning clients across over to the Clifton proposition.”

He added: “Many of my clients have been with me a long time, some for over 40 years, so it was particularly important that I made the right choice. It’s not a revolution for the clients, it’s an evolution into a firm with more resources and the capabilities to service the clients going forwards. It’s a good match and I know I’m placing my clients in a safe place.”

Anthony Carty, group financial planning director at Clifton AM, said: “We are particularly thrilled to be working with Mark and his clients. His client focus and commitment to great outcomes mirrors our philosophy at Clifton. 

“While Mark will be working with us for a couple of years to help transition clients over to Clifton, we hope that after all his years of providing a dedicated service to clients, he can move into retirement knowing that his clients are being very well looked after by the Clifton team.”

Clifton AM plan to continue their acquisition strategy this year. Mr Carty continued:

“This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned. 

“We aim to complete on several other acquisitions in the early part of 2023.”

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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.