Skipton Building Society has acquired a 75 per cent shareholding in Scottish IFA Thomson Shepherd, just two weeks after it bought 85 per cent of Torquil Clark.
Thomson Shepherd will continue to run as an independent company and will retain its brand, but it will now report to Skipton’s main board of directors.
The Scottish-based IFA employs 35 staff – including 12 advisers – and has £400m of funds under advice. It operates from offices in Edinburgh, Perth, Aberdeen and Inverness and its core areas of business are investment, pensions, trust and estate planning.
This is the fifth financial advice company within the Skipton Group, which includes Skipton Financial Services, Pearson Jones and Parnell Fisher Child.
Skipton group corporate development director David Cutter says: “One of the Skipton Group’s key areas of focus is financial advice and we’ve made no secret of our desire to acquire companies with quality staff, reputations and business models – and that’s exactly what we’ve done in welcoming Thomson Shepherd. The company is a well-respected regional IFA with highly qualified staff and a young leadership team that has energy and enthusiasm to grow the business. We’re therefore very pleased that we’ll be part of that growth and that by working with our other financial advice teams, we can bring even greater benefits to the company.”
Thomson Shepherd managing director Gordon Wilson adds: “We are delighted that Thomson Shepherd has become part of the Skipton Group. Skipton is a strong and forward thinking financial institution, committed to the growth and development of the business which will be of future benefit to our staff and clients alike. We will continue to look to add to our excellent team of consulting and support staff and to seek out other quality financial advice businesses to acquire.”