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Ascot Lloyd secures new funding and launches private office


National advice firm Ascot Lloyd has secured a seven-figure funding deal and opened a private office.

The funding package, provided by Clydesdale Bank, will be used to pay deferred considerations on Ascot Lloyd’s previous acquisitions as well as future deals.

In addition, the firm has opened a private office in Harrogate. Ascot Lloyd Private Office is aimed at individuals and families with investible assets of at least £500,000.

There are 40 staff in Harrogate and 12 in London.

The new business is in addition to Ascot Lloyd Financial Services, aimed at mid-sized clients, and Ascot Lloyd Client Support, which the firm says delivers “affordable advice to clients with infrequent requirements”.

In all, the group employs around 175 staff in 10 offices across the country and manages around £2bn of assets for its clients.

Former Cofunds chief executive Stuart Dyer joined as chair earlier this year, while Iain Balchin was appointed chief financial officer after being poached from St. James’s Place.

Chief executive Richard Dunbabin says: “We are seeing a growing need for high quality wealth solutions in Harrogate and across Yorkshire. We will enhance our offering in response to this demand, utilising the skill of our financial advisers to help existing and new clients achieve their financial goals.

“We have segmented our offering and launched a private office to ensure we tailor solutions to the variety of financial advice requirements our clients will have at different stages of their lives.

“While competitors are scaling back the bespoke financial services they offer, we remain committed to personalised, client-centric wealth management.”



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