Fourth acquisition in nine months and sixth overall marks acceleration in Clifton’s growth programme…

Clifton Asset Management plc is pleased to announce the acquisition of GB Financial Services, a financial advisory firm based in Wombourne, West Midlands, brokered by Gunner & Co.. This acquisition marks an acceleration in the Clifton growth programme – with this fourth acquisition in nine months and sixth overall.

With the addition of GB Financial Services’ 550 clients, the Clifton Group’s Assets Under Management (AUM) increases to around £1.2bn – a rise of more £500m since Clifton received first round funding from independent asset manager BOOST&CO in July 2022. GB Financial Services has built a strong reputation providing high quality advice and service to clients in and around the Wolverhampton and Dudley region.

Anthony Carty, Group Financial Planning Director at Clifton said:

“We are thrilled with this, our sixth acquisition, and very happy to confirm that Principals Barry Hamblett and Sally Mynett will join the Clifton Wealth Partnership advisory team on a consultancy basis for two years to assist with the handover of clients to two locally based advisors.

Adding to our national profile is important, and it is great news that we will be retaining the GB Financial Services offices and staff located in Wombourne.”

Barry Hamblett, GB Financial Services Principal, said:

“This is hugely important for GB Financial Services and the clients we’ve worked with so closely for more than 30 years. Clifton has an excellent reputation, and their proposition is outstanding. This has given us confidence to introduce Clifton to our clients in the knowledge that they can provide the product range, along with service and technology levels that can at times be challenging for a local financial advisory business. We know therefore, that our clients are in good hands!”

With the GB Financial Services deal complete, six smaller advisory firms have now joined the Clifton Group so that they can quickly compete with larger rivals by gaining access to the technology, services and products offered under the Clifton umbrella. Clifton are in active conversations with a number of advisory firms which are strategically placed around the country including firms based in the South West, Portsmouth, West Midlands, Aberdeen and South Wales.

Anthony Carty concluded:

“2023 has started strongly with this announcement, but what is equally as exciting is that we have a pipeline of further acquisitions which should see group AUM increase to circa £2bn over the next 12 months. This will be an AUM growth of around £1.5bn in just 18 months – proving once again – the success of our ‘buy and build’ acquisition strategy, and the compelling proposition that we offer smaller advisory firms in the market.”

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