The firm acquired Somerset-based A.C. Mole Financial Services, the advice division of an accountancy firm of the same name, for an undisclosed sum.
The deal will raise SFI’s total assets under management to more than £90m.
SHI, which is owned by Bristol-based wealth manager and stockbroker Rowan Dartington, has also taken on a partner at AC Mole, Christopher Loveluck, as non-executive director.
AC Mole will retain its trading name and continue to operate from its Taunton office.
It is understood that the deal has been under discussion since the end of last year.
Jeremy Wake, chief executive of SHI, said: “This was a natural step for us as we look for ways to grow our business. Both parties have worked together in the past and already have many clients in common.”
|Rowan Dartington launched SHI in 2012 as an additional advisory proposition for clients already using the firm’s stockbroking and fund management services. It currently has 500 clients on its books.|