IFA consolidator Bright Financial Services has acquired Richard Ashton Financial Services, further strengthening its position in the North East.
Bright has now acquired 31 IFA firms since 2003, with seven businesses based in the North East region.
A further 12 acquisitions are planned for next year.
Bright director Ian Craddock says: “The purchase of the Richard Ashton business further consolidates our presence in the North East.
“Bright is now entering its eighth year and is ideally positioned to help IFAs wishing to retire in the coming years. In the latter half of this year we have witnessed a marked increase in the number of retirement enquiries.”
Richard Ashton says: “It was important for me to find the right value for my business and the right company to look after my clients following my retirement. I chose Bright as a result of the structure of the purchase and the manner in which their business is geared to look after the clients of IFAs who wish to retire.”