Alexander Beard Group (ABG) has bought McGowan Associates for an undisclosed sum, bringing a further £35m of assets under management to the Cheshire-based group.
McGowan Associates (McGA) comprises two advisers and a paraplanner, and is based in Yorkshire.
Paul Beard, executive chairman of Alexander Beard Group, said that the acquisition fits its strategy of buying smaller practices in relevant locations.
He said: "McGowan Associates are a quality firm with a long history servicing the local private and corporate client and I am equally pleased that its founder and managing director will remain with the business and become a partner in our wealth management company.
"We intend to retain their current staff and premises trading under the McGowan Associates name.”
McGowan Associates founder David McGowan said: “Paul and I have been talking for over a year and I am delighted that we are joining such a wellknown and long established business which secures the future for both our client relationships and current staff.
"I look forward to making a significant contribution to the future prosperity of Alexander Beard Group.”
rosie.murraywest@ft.com
