Smith & Williamson has denied it is still an acquisition target, saying its current focus is on organic growth.
In September last year, merger talks between Rathbones and Smith & Williamson broke down.
The firm then said in December that any plans it had to list on the London Stock Exchange would not come to fruition before the second half of 2019.
The company, which runs £19bn, tells Money Marketing it wants to grow organically rather than through acquisitions. It also confirms it has not been approached by any external business for a potential deal.
Smith & Williamson retail sales head Mickey Morrissey says the investment firm is fully dependent on advisers’ flows and currently has “no further plans” to launch any new services or acquire firms itself.
He adds: “We have increasing IFA support; we didn’t have any track record [before now]. It’s a growth plan we [have] under control.”