Consolidator One Four Nine has bought Glasgow-based chartered financial planning firm APC Financial Solutions & Consultancy Services, marking the group’s fourth acquisition since launching in October 2021.
The move, which expands the group’s footprint into Scotland, increases One Four Nine’s AUM to approximately £650mn across 2,000 clients and brings staff numbers to more than 50.
The APC team offers financial planning services across the investment and protection space.
One Four Nine’s managing director, Gabrielle Beaumont said the APC team has built a “highly impressive business” and she is looking forward to collaborating with it to build “an even better client experience”.
“The quality of their leadership team, high value clients and introducers made them an excellent fit, aligned with One Four Nine’s values and long-term aspirations for the growth of the business,” she said.
Echoing this, One Four Nine’s chief executive, Matthew Bugden anticipated the market will hear more from the group in the coming weeks and months as it continues to deliver on its strategic plans.
“It is hugely satisfying to see our acquisition programme continue apace especially with the high calibre of firms and advisers, such as the APC team, wishing to join our colleagues."
“I am confident that our numbers will continue to increase significantly by the end of the year and I would be delighted to hear personally from those advisers and firms who are looking at their own succession plans, to see where One Four Nine can help them,” he said.
The group said it plans on continuing its acquisition strategy this year and has secured an additional tranche of equity funding from investors through Copper Street Capital to further facilitate “building a national footprint”.
In particular, the group said it is focusing on acquiring and partnering with financial advice businesses currently owned or aligned with accountancy practices and other professional services firms, as well as standalone advisory firms.
It said this includes advisers experienced in recommending tax efficient alternative investments or those looking to access this part of the advice spectrum who may not have the infrastructure, research capability or confidence to do so previously.
In October last year One Four Nine launched with the acquisition of Charter Financial Planning and Rice Whatmough Crozier, two financial advisory firms totalling seven advisers and £300m in assets under management.
In January it bought another firm - Total Wealth Planning - adding 12 employees and £240mn AUM to the group.
The firm also has a discretionary fund manager, One Four Nine Portfolio Management, which offers active, passive and sustainable model portfolios to clients.