One Four Nine Group, an independent fund manager, has purchased Russell Gibson Financial Management to bolster its presence in Scotland.

The deal represents One Four Nine Group’s second acquisition in Scotland after the company bought Glasgow-based APC Financial Solutions & Consultancy Services last month.

It also marks the fifth deal since the launch of the company in October 2021 and complements its expansion plan across the UK.

The new deal has expanded One Four Nine Group’s total assets under management (AUM) to more than £800m across nearly 2,500 customers. Total workforce of the company has also jumped to 70.

Founded in 2007, Russell Gibson Financial Management offers financial advice and tax-compliant alternative investment solutions.

The deal will enable Russell Gibson to use One Four Nine Group’s expertise and advice infrastructure to meet the requirements of its customers.

One Four Nine Group managing director Gabrielle Beaumont said: “Tax efficient investing is a specialist area for One Four Nine Group and we were delighted to collaborate with Russell Gibson to explore how we could strengthen this aspect of their client offering during the acquisition process.

“Scotland is a key area of expansion for us, having spent considerable time since launch seeking high quality businesses in the region whose values and commitment to excellent customer service match our own.”

Russell Gibson Financial Management founder Alan Ball said: “Since inception we’ve built a firm that places clients at the heart of everything we do.

“One Four Nine Group embodied all the qualities we value – strong leadership, specialist expertise in tax efficient alternative investments, a collegiate culture, and impressive infrastructure for future development.

“Their obvious commitment to excellent customer service was pivotal in our decision as it meant ensuring our clients continue to receive the very best financial care available.”