Ascot Lloyd has acquired Dorset advice business Harvard Financial Management, which has £89m in assets under management.
Harvard’s nine staff – including three advisers – will transfer to Ascot Lloyd. They will remain in their office in Christchurch, Dorset and will be joined by two Ascot Lloyd advisers.
Ascot Lloyd chief executive Richard Dunbabin says the business is on the look-out for further acquisitions.
He says: “This is a strategically significant acquisition, which complements our proposition with considerable expertise in specialist areas of advice such as pension transfers.”
Harvard managing director Mark Werner adds: “This move will enable us to achieve economies of scale by utilising Ascot Lloyd’s impressive back office and central functions, freeing up more time for our financial advisers to focus on the quality of the solutions we offer.”
Harvard will trade as Harvard Financial Management, part of the Ascot Lloyd Group.