Ambitious wealth management firm makes sixth acquisition
A Bristol wealth management firm has completed its fourth acquisition in nine months.
The deal which has seen Clifton Asset Management acquire GB Financial Services means the company now has £1.2bn worth of assets under its control.
The deal is the sixth acquisition for the firm and it will see 550 clients added to the firm’s growing portfolio.
Wombourne-based GB Financial Services principals Barry Hamblett and Sally Mynett will join the Clifton Wealth Partnership advisory team in a consultancy capacity for two years.
Clifton AM group financial planning director Athony Carty said: “Adding to our national profile is important and it is great news that we will be retaining the GB Financial Services offices and staff.
“2023 has started strongly with this announcement, but what is equally as exciting is that we have a pipeline of further acquisitions which should see group AUM increase to circa £2bn over the next 12 months.
“This will be an AUM growth of around £1.5bn in just 18 months – proving once again – the success of our ‘buy and build’ acquisition strategy and the compelling proposition that we offer smaller advisory firms in the market.”
GB Financial Services principal Barry Hamblett added: “This is hugely important for GB Financial Services and the clients we’ve worked with so closely for more than 30 years.
“Clifton has an excellent reputation, and their proposition is outstanding.
“This has given us confidence to introduce Clifton to our clients in the knowledge that they can provide the product range, along with service and technology levels that can at times be challenging for a local financial advisory business. We know therefore, that our clients are in good hands.”