Ludlow Wealth Management has bought a Scottish financial advice firm to expand its footprint north of the border.
It has bought Whyte Sharpe, which has offices in Edinburgh and St Andrews, for an undisclosed sum.
Former owner Gary Whyte will be retiring while his business partner, David Watson, will continue to run the St Andrews arm of Whyte Sharp as a stand-alone operation.
Ludlow, which is based in Southport, advises clients across the UK and has more than £850m in assets under management.
It recently completed a management buyout that was supported by Mobeus Equity Partners.
Ian Hemingway, chief executive of Ludlow Wealth Management, said: “We have had a long-term plan that will see Ludlow become one of the UK’s leading wealth management business.
"Following the recent management buyout, we have been given a clear mandate and the resources by Mobeus to ensure this objective is achieved.
“We have long identified that Scotland offers us valuable growth and have always regarded Whyte Sharp as a firm that shares the same business principles and client philosophies.
"We’re now looking forward to a new chapter in our growth following the acquisition and look forward to working with our clients across Scotland."
Ludlow’s consultants Darren Scoon and Chris Mcleod will be based at the Edinburgh office and will be looking to grow the firm’s presence throughout Scotland.
Mr Whyte said: “Over the past three to four years, we have had a number of approaches from several financial institutions wishing to acquire the business.
"After considerable effort, I have found a firm in Ludlow Wealth Management, which has similar client values and work ethos to mine and therefore will be best suited to the financial requirements of my clients.
“Ludlow has a very strong Scottish arm and a most progressive outlook. Its approach and values are consistent with those of Whyte Sharp and I am confident that clients will enjoy and benefit greatly from their expertise and innovative approach.”