Private equity-backed Advanta Solutions has bought three firms in Scotland, adding £100mn in assets under management.
The chartered firm has bought North Ayrshire-based SMG Financial Options, Perth and Kinross-based Ann Bellingham Financial Services and Renfrewshire-based M&I Independent Financial Services.
Advanta said the three deals now contribute to its footprint in Scotland and add to the existing business based in Glasgow.
Advanta chief executive Craig Webster said: “As we continue to grow our business across the UK, we are delighted to have three fantastic businesses join our team and reinforce our commitment to delivering advice in Scotland.
“With the new consumer duty coming into effect in July next year, firms everywhere are considering the needs of their customers and understand that joining Advanta, where we have a wider range of products and services, is a core requirement for providing financial advice now and in the future.”
As part of its growth strategy, Advanta is also opening an office in Dundee.
Webster added: “Raising the standards of advice and service in the UK is central to our strategy of creating a professional environment for our clients.”
The deals come after Advanta secured a “significant investment” from Beech Tree Private Equity last January.
Advanta Solutions, which includes financial planning firm Advanta Wealth and a mortgage and protection business, struck a deal with Beech Tree Private Equity worth between £10mn and £40mn.
At the time, Webster said the business is set to use the funding to pursue both organic growth and an acquisition pipeline which would include "multiple acquisitions every year".
The firm is still actively seeking acquisitions and is on track to have completed seven this year.
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