The deal, which is pending regulatory approval, enables CGWM to set foot in the Scottish market. Credit: Gerd Altmann from Pixabay

Bristol-based financial services firm Clifton Asset Management has wrapped up acquisition of Leonard Gold Financial Management for an unknown sum.

The deal is said to be the first in a number of acquisitions the company is planning to make this year.

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Clifton first announced Gold Financial deal in September 2019 as part of its strategy to grow a regional network of small advise business.

For the past two years, Southsea-based Leonard Gold has been preparing to transition into Clifton as appointed representative for Clifton Wealth Partnership.

Clifton Wealth Partnership, a subsidiary of Clifton, was launched in 2019 as a vehicle for smaller advisory firms to either become appointed representatives or join the firm via acquisition.

Commenting on the deal, Leonard Gold partner Nas Khan said: “It has been a pleasure working with Clifton over the past two years to ensure a seamless transition to their service, and I can now leave the business knowing that all of our clients are in very experienced hands.”

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Clifton’s group financial planning director Anthony Carty said: “It’s been a delight working with Leonard Gold and Nas over the past two years.

“He has always provided a first-class service to his clients and going forward we will build on these strong relationships.

“There have been many benefits of working with Leonard Gold as an AR firm, with clients not only becoming accustomed to our leading systems and processes, but it has also allowed us to work very closely with Nas on the transition of all clients to their new adviser.”

In 2019, Clifton acquired Shewsbury-based wealth manager Plan For Life Wealth Management.