Advice firm Ascot Lloyd has purchased Harvard Financial Management to expand its presence in the south of England. Terms of the deal were not disclosed.
Incorporated in 1996, Harvard offers pensions, investment, wealth management, financial planning and life insurance services to private clients.
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Following the acquisition, a number of Ascot Lloyd advisers will join nine Harvard employees, who are currently based in Christchurch. Harvard will continue to trade as Harvard Financial Management, subsidiary of the Ascot Lloyd Group.
Commenting on the acquisition, Ascot Lloyd CEO Richard Dunbabin said: “We are pleased to be expanding on the South Coast with an acquisition which adds significant potential for us to grow the services we provide in the area. This is a strategically significant acquisition, which complements our proposition with considerable expertise in specialist areas of advice such as pension transfers.
“Harvard boasts an excellent client base and talented team of advisers and support staff. We remain acquisitive and will continue to look for similar businesses that can contribute to our mission of building the UK’s leading national IFA firm.”
Harvard managing director Mark Werner said: "This move will enable us to achieve economies of scale by utilising Ascot Lloyd's impressive back office and central functions, freeing up more time for our financial advisers to focus on the quality of the solutions we offer. I look forward to working with our new, larger team to develop our business through a new period of growth."
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