This would bring Conforto’s total number of acquisitions to five and forms part of the firm’s plans to build assets under management to £500m.
Conforto acquired The McCroddan Partnership in July and Christie Scott’s in October, bringing its total assets under management to around £125m.
Conforto managing director Andy Sutton says the firm’s strategy is more about “assets as opposed to firms”, focusing on “profitable, owner-managed businesses which are predominantly commission-based and looking for an exit”.
He says: “The acquisition process does not happen overnight and, as such, we are continuing to court a number of potential 2009 targets. We have dialogue with three at present.”
Firms acquired by Conforto are rebranded under its banner and are moved to a fee-based structure. Sutton says he is looking for low-volume, high-value businesses.