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Towergate buys Glasgow firm

Towergate has bought Glasgow insurance broker and financial advice firm MacDonald Reid Scott Group.

It says this acquisition strengthens its presence in Scotland, having bought JW Group last year and both McAra Associates and Albannach Financial Management this year.

MRSIB specialises in property, liability and commercial motor insurance. It is run by managing director Bernard Dunn. MRSFS is an employee benefits and wealth management adviser led by managing director Douglas McIntyre. It has 12 individuals registered with the FSA.

Both teams will move into Towergate, with the financial services arm integrated into the newly formed Towergate Financial Services.

Towergate Financial Services chairman Patrick Snowball says: “MacDonald Reid Scott Financial is a great addition to Towergate Financial Services. We have plans to expand our presence in Scotland through the acquisition of well-run IFA businesses as part of our new model for this market.”

MRSFS chairman Ian Scott says: “We have built our business on our commitment to offering a very competitive and compelling proposition.”

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