British fund management firm One Four Nine has acquired Glasgow-based APC Financial Solutions & Consultancy Services, according to multiple reports.
The financial terms of the deal were not disclosed.
The deal, which marks the group’s fourth acquisition since launching in October last year, expands its footprint to Scotland.
APC Financial provides financial planning services across the investment and protection vertical.
The addition of APC is said to increase Four Nine’s assets under management (AuM) to around £650m across 2,000 clients and takes its employee headcount to over 50.
One Four Nine CEO Matthew Bugden added: “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.
“Impetus for our expansion has been building since launch given our strong relationships across the financial advice sector resulting in a healthy pipeline of inbound queries from advisers.”
One Four Nine, which took over Surrey-based chartered financial planning firm Total Wealth Planning this January, intends to make further acquisitions to develop a nationwide footprint.
The firm divulged that it has secured additional investment from Copper Street Capital to fund its plans.
Bugden added: “With such a rich and diverse talent pool within the adviser market, 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.”