Financial Planning firm Ascot Lloyd has acquired Swansea-based IFA Portfolio Financial Consultancy which has £323m assets under management.

The deal for the whole business was for an undisclosed amount.

On its website Portfolio Financial Consultancy informed their clients about the acquisition, stating, “Portfolio Financial Consultancy Ltd has become part of Ascot Lloyd, who are one of the UK’s leading Independent Financial Advice firms.”

Having been established as an IFA in Swansea in 1999, Portfolio Financial Consultancy has expanded over the years, currently employing 19 staff. As part of the acquisition, all staff members will be integrated into Ascot Lloyd while continuing to operate from their existing Swansea office.

Ascot Lloyd, founded in 2003, has around £10bn in funds under influence and provides Financial Planning, wealth management and corporate benefit solutions to more than 20,000 clients.

With over 500 employees situated across 17 locations in the UK, Ascot Lloyd has consistently grown under the leadership of Nigel Stockton.

Mr Stockton said: “We focus on the importance of Financial Planning, not just financial advice. As a rapidly growing national firm we have opportunities across the country which enable our employees to work flexibly with the technology and support behind them.”

European private equity firm Nordic Capital acquired Ascot Lloyd from US-based Oaktree Capital Management for an undisclosed sum last October.

Before then Ascot Lloyd’s expansion strategy involved previous acquisitions of several Financial Planners across the country, including Kemble Warwick, Corporate Benefits Consulting, Gregory Adam Financial Management, Fitzroy Wealth Management and Ring Associates in 2020.

In August 2021 it completed the acquisition of Aberdeen-based Central Investment Services, a few months after securing funds from Ares Management Corporation to increase its capital available for acquisitions to over £100m.

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