National advice firm Wren Sterling has acquired Dunfermline-based T D Armstrong Financial Planning.
The deal brings £116m in assets under management to Wren Sterling, boosting total assets to £3.3bn.
T D Armstrong’s IFA team of three will move under the Wren Sterling umbrella, which already has an advice team in Glasgow.
Formerly known as Towergate Financial, the firm rebranded after a management buy-out separation from broker Towergate in 2015.
The acquisition is the third for Wren Sterling since 2016 and follows that of First Trust Bank in Northern Ireland.
Chief executive Ian Halley says: “This acquisition is an exciting step for Wren Sterling because it further supports the growth of our business. I’m looking forward to working with Max and his team to embed these clients into our business ensuring they continue to have access to independent financial planning services.”
Ambitious growth plans for Wren Sterling will see it look to make further acquisitions moving forward.
Halley adds: “We are looking for opportunities to acquire more businesses and back books where there is a good cultural fit between the businesses and it’s clear that a transaction will secure clients’ access to advice.”
Wren Sterling has advice firms in London, Nottingham, Weybridge, Grantham, Halifax, and Warwick, as well as in Belfast.