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Bradbury Hamilton buys two client banks

IFA firm Bradbury Hamilton has acquired two client banks with combined assets under advice of £35m.

London-based MC Associates has £30m assets and 300 active clients and Hertfordshire-based Squire John has £5m assets and 50 active clients. The deals will bring Bradbury Hamilton’s assets under advice to £135m.

The price for the two firms has not been disclosed.

Bradbury Hamilton has seven advisers but is looking to increase this to 10 by the end of 2013. It is not taking on any advisers as part of these deals.

Managing director Sheriar Bradbury says the firm expects to complete further acquisitions in 2013.

He says: “As we start 2013, with the uncertainty of the RDR firmly behind us, the time is right for owners of small adviser firms to review their business plans.

“I believe for many this is already resulting in greater focus on having a clear exit strategy in place.”

AWD Chase de Vere head of communications Patrick Connolly says: “We are seeing an awful lot of consolidation in the adviser industry and it is a trend that will continue for many months to come.”

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