InvestmentsMay 21 2018

Brewin Dolphin buys investment adviser's client bank

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Brewin Dolphin buys investment adviser's client bank

Wealth manager Brewin Dolphin has acquired the book of investment clients of a Dundee-based firm.

The company has bought the client bank of 150 investment management clients of ClarkThompson Mortgage Finders. The existing mortgage and non life insurance business of the firm will continue as normal.

The investment adviser and co-owner of the business has decided to retire, and had an existing relationship with Brewin Dolphin’s Dundee office.

The price for the transaction has not been disclosed.

David Hogg, owner and director at Clark Thompson Mortgage Finders, said: “I was very keen to make I found the best local outlet for my clients and had no hesitation in recommending Brewin Dolphin, they are a financially strong company.”

Ian MacDonald, head of Brewin Dolphin’s Dundee office, said: “I have known David Hogg for 25 years and am very confident he ran a quality business.”

Brewin Dolphin has had an office in Dundee for the past 20 years, and employs three financial advisers.

Mr Hogg was the only investment adviser employed at Clark Thompson Mortgage Finders so no employees transfer over to Brewin Dolphin.

David.Thorpe@ft.com