UK-based Clifton Asset Management has concluded the takeover of Stroud-based financial advice provider Noble James Associates for an undisclosed amount.
Founded in 1999, Noble James Associated operates with a team of three independent financial advisers handling £130m in assets under management (AUM).
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The deal has swelled Clifton’s total AUM to £970m.
Clifton group director of financial planning Anthony Carty said: “We are particularly thrilled to be working with the highly experienced team at Noble James. Their client focus and commitment to great outcomes mirrors our philosophy at Clifton.
“This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned.”
The latest development comes after Clifton bought wealth management firm Burnett & Reid Wealth Management in July this year.
The deal was part of the company’s plan to speed-up its ‘buy and build’ acquisition policy, which is designed to help Clifton add smaller advisory firms through acquisition or appointed representative position.
At that time, Clifton also stated that it had received first round of funding from Boost & Co, an independent asset manager, as part of the ‘buy and build’ strategy.
Noble James Associates director of personal finance Alistair Bidmead said: “We were particularly attracted by the resources that Clifton has to offer.
“The infrastructure and the staff will allow our adviser team to do what they do best rather than also trying to juggle multiple back-office tasks as they do at present.
“This can only be a win-win for our clients and our adviser team.”
