The deal will sees Balfour’s 10 advisers, including its managing director John Brown, transfer across to join Lift-Financial’s newly created restricted advice arm of the group, Lift-Advice.

Lift-Advice operates in the restricted advice space to meet the differing consumer advice and service needs post-RDR.

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Lift-Financial expects that the deal will broaden its proposition and strengthen its existing presence in Edinburgh.

Lift-Financial CEO Michael Holden said they are delighted that all of the Balfour advisers have agreed to join them.

"There will clearly be huge opportunities in the Restricted Advice space and Lift-Advice is the vehicle that will allow us to service clients in that market," Holden said.

Lift-Financial has grown to 47 staff after the Balfour deal, from seven around three years ago.

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