Cornerstone Asset Holdings Limited, the holding company of Derbyshire-based advice firm Sterling McCall Wealth Management, has acquired Grimsby-based IFA Sutcliffe Solloway Financial Planning.
Steve Moseley, operations manager at Sterling McCall, said this move is the latest step in a continuing expansion of its national network of advisers.
Sterling McCall has acquired nine firms in the last four years. According to Mr Moseley, the number of firms interested in selling has increased noticeably since the arrival of the Retail Distribution Review.
Sutcliffe Solloway’s sole adviser Mike Sharpe will join Sterling McCall under the terms of the deal, while the firm will also take on another two advisers to serve the more than 500 clients acquired.
The purchase adds £35m of funds under influence to the firm’s asset base.
Mr Moseley said: “We have now hit the £290m mark with over £100m in its central investment proposition. The company is targeting a further £250m of assets in 2013 to move well in excess of half a billion pounds.
“We also aim to have 30 IFA partners before the end of the year. The ambitions above are made achievable following a radical change to our business model in 2009.”
