Close Brothers has attributed its "quiet" year of acquisitions to competition in the market.
The company had bought two advice firms in the past year, growing its number of advisers by 9 per cent.
Andy Cumming, head of advice at Close Brothers, said the company did not have a specific target for how much it wanted to grow its advice business by, adding that it wanted to be "discerning".
He said Close Brothers generally aims to buy firms which have around £250m in assets under management and added this market was "fairly competitive".
Mr Cumming said: "There is definitely not as many firms around the £250m mark coming up for sale.
"The bigger IFAs don't really come up that often and there are a few businesses like ourselves which are interested.
"Because not much has come up we have been quiet. I think over the last three or four years there have been a couple of new entrants [into the consolidation market]."
But Mr Cumming said Close Brothers would not compete with other companies by "overspending", instead it would focus on the fact the company is not owned by venture capitalists seeking to get a return on their investment through an initial public offering (IPO) but is a long-standing company, which will be around in "many years' time".
Mr Cumming said that over the past year the company bought two firms, one with just over £100m in assets and another with around £380m.
Last week Close Brothers saw its assets under management increase to £9.5bn after strong net inflows.
The company's asset management division also benefited from positive market movements, which saw its assets increase by 6.5 per cent in the first quarter of its year, ending in October.
damian.fantato@ft.com
