British financial advisory firm Wren Sterling has snapped up TD Armstrong Financial Planning, which is headquartered in Dunfermline.

Financial terms of the transaction were not divulged.

The deal adds £116m in assets to Wren’s portfolio, increasing its total assets to £3.3bn.

As part of the deal, TD financial planners Max Horne and Fraser Rowan as well as account manager Trudi Horne will migrate to Wren.

Wren CEO Ian Halley said: “This acquisition is an exciting step for Wren Sterling because it further supports the growth of our business.

“I’m looking forward to working with Max and his team to embed these clients into our business ensuring they continue to have access to independent financial planning services.”

The latest deal continues Wren’s consolidation activities. Some of the firm’s recent acquisitions include that of the back books of First Trust Bank in Northern Ireland and Leek United Building Society.

Halley also outlined plans for more takeovers.

He said that it the firm is eyeing more businesses where “there is a good cultural fit between the businesses and it’s clear that a transaction will secure clients’ access to advice”.

Wren Sterling previously operated under the name Towergate Financial. It was renamed in 2015 following a management buy-out.

The firm provides investment and pensions advice.

It has presence in London, Nottingham, Glasgow, Belfast, Halifax, Warwick, Weybridge and Grantham.