Embark Group has acquired The Adviser Centre from its founder City Financial, as part of a commercial agreement that will see the two firms "utilising their complementary capabilities".
The Adviser Centre, which provides research and consultancy services to financial advisers, will continue to be led by Investment Director Peter Toogood, and will retain its branding under the new ownership.
Embark's acquisition of The Adviser Centre follows the takeover of self-invested personal pension provider Rowanmoor Group in July. It is also the parent company of Sipp provider Hornbuckle Mitchell.
In a statement, Embark said the latest acquisition was another step towards its aim of being "one of the UK’s leading digital retirement solutions providers".
Phil Smith, CEO of the Embark Group, described the deal as a "very positive transition for all concerned".
"The Adviser Centre’s people and their capabilities add great strength and proven depth to our Group competencies, and we are delighted to welcome them on board at an exciting time in the UK IFA space," he said.
City Financial chief executive Andrew Williams said he was "immensely proud" of The Adviser Centre, adding that Embark was "the ideal custodian for this next stage of the journey".
"I am equally pleased that we will strengthen our relationship with Embark and I look forward to increasing collaboration,” he said.
Mr Toogood added the deal would allow The Adviser Centre to "expand our proposition”.
