Independent advice firm Ascot Lloyd has acquired Harrogate-based wealth manager PFP Group for an undisclosed sum.
The combined businesses will be branded Ascot Lloyd, which now manages assets worth £2.2bn and employ 168 staff across 10 locations in the UK.
Ascot Lloyd chief executive Richard Dunbabin says: “Ascot Lloyd and the PFP Group are very closely aligned and the combined firm will benefit from synergies through pooling resources and professional experience.
“As a group we are acquisitive. We believe the need for high quality independent financial advice has never been greater. We will enhance and grow our national footprint by offering independent financial advice to all segments of the market, from the high-net-worth to those with smaller portfolios.”
PFP Group managing partner Ross Hyett, who will join the board of Ascot Lloyd, adds: “This is an exciting stage in the development of the PFP business. Joining Ascot Lloyd will allow us to expand and develop the range of services we offer, creating exciting opportunities for clients and staff.”