Acumen Financial Planning, head officed in Aberdeen, has acquired Edinburgh IFA Duckworth Alexander, further expanding its Edinburgh base.
Acumen, which has offices in Aberdeen, Elgin, Peterhead and Edinburgh, has actively been looking to grow their Edinburgh office, and feel that Duckworth Alexander is the right business to do that.
Duckworth Alexander’s principal, Iain Duckworth, is a chartered IFA, and will join Acumen’s leadership team.
Sandy Robertson, MD of Acumen mentioned, ‘We have been looking to expand our Edinburgh office for some time, patiently waiting for the right opportunity. Acquiring Duckworth Alexander and having Iain join our team there has been worth the wait.”
David Gow, director of Acumen said the two companies shared significant synergies, particularly in their investment approach.
‘With very similar investment philosophies and attention to detail it only seems natural that a coming together of the companies will allow existing clients to continue receiving outstanding service and for new clients to experience excellent financial planning for the first time,’ said Gow.
The deal will add around £20M of assets under advice to Acumen’s existing £330M, growing their client book by 6%.