Ascot Lloyd has acquired West Midlands IFA Newell Palmer, taking the firm above the 100 adviser mark for the first time.
Newell Palmer has made a number of acquisitions itself this year, and will add at least £1.3bn in assets to Ascot Lloyd.
The firm says it will now have over £7bn in client funds, and is expecting a £50m turnover for 2019 on the back of the acquisition.
Ascot Lloyd will take control of three new offices in the region: Wolverhampton, Nuneaton and Bromsgrove.
Newell Palmer will rebrand to Ascot Lloyd in the second half of 2019, mirroring the decision to take the Ascot Lloyd name when the firm acquired Bellpenny last year.
Ascot Lloyd chief executive Nigel Stockton says: “This is an important acquisition for Ascot Lloyd, adding an outstanding business of significant scale to the group. The deal also showcases the strength of Ascot Lloyd as one of the few IFA companies with proven capability in purchasing and integrating a business of Newell Palmer’s size.
“This is the third year running…in which we have completed a major acquisition and this will continue to be part of our strategy.”
Newell Palmer has made a total of 51 acquisitions since it was established 25 years ago.
In October, when it sealed its latest deal, the firm said it would “look forward to completing further acquisitions in the coming months”.