Norwich-based SG Wealth Management has bought Ipswich IFA firm Stan Gaskin for an undisclosed sum.
Stan Gaskin, founded in 2000, employs eight people, three of which are advisers. It has £115m in assets under management.
The deal takes SGWM’s total assets under management to £200m and its team of advisers to eight.
SGWM says there will be no redundancies as a result of the buyout and that the firm will take on more staff to deal with the expansion.
It adds it is looking to make further acquisitions in the financial sector.
Director Neil Shillito says: “Stan Gaskin is an established firm of independent financial advisers with an enviable reputation in the Suffolk area.
“It has a similar business ethos to us of providing clients with excellent service and advice without consideration to broking commission.”
Founder Stan Gaskin is retiring after working in the financial services sector for more than 35 years and will take up a consultancy role.
He says: “My son Henry will manage the Ipswich operation within the SGWM umbrella. We will continue to operate under the Stan Gaskin name but will now be able to offer a broader range of services to our clients.”