Succession Holdings has purchased Scottish IFA Edinburgh Investment Consultants (EIC) for £6.2m.
The acquisition will add £120m of funds under management to Succession’s national wealth management advisory business.
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The deal will allow Succession to expand its network of client servicing hubs and will provide it with a dedicated office in Glasgow’s city centre.
Additionally, Succession has unveiled plans to acquire 50 businesses by the end of 2017.
Succession Group CEO Simon Chamberlain said: "EIC joined just nine months ago with a clear agenda to build value and capital into an already high-performing business model.
"Acquired businesses, including the owners and their teams, are quickly integrated into our framework, which combines financial planning and advice with comprehensive investment services – providing the widest choice of funds available and a robust governance to manage them – to help clients achieve their unique and individual financial goals."
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By GlobalDataEIC CEO and founder and innovator of subsidiary brand Independent Women Lesley Mackintosh said: "I have no plans to exit the industry, and this acquisition allows me to enjoy a capital event now while still remaining very active in the business, particularly continuing to give the same advice and service to my clients as I have done to date."
