Ludlow Wealth Management has acquired Scottish financial advice business Whyte Sharp for an undisclosed sum.

Southport-based Whyte Sharpe has offices in Edinburgh and St Andrews and manages more than £850m in assets.

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Following the deal, the acquired firm’s former owner Gary Whyte will retire. The firm’s partner David Watson will continue to manage the firm’s St Andrews unit, which will operate as a stand-alone entity.

Ludlow consultants Darren Scoon and Chris Mcleod will join the Edinburgh office, while former Whyte Sharp employee Rachel Morrison will move to the client support team at Ludlow.

Ludlow CEO Ian Hemingway said: “We have long identified that Scotland offers us valuable growth and have always regarded Whyte Sharp as a firm that shares the same business principles and client philosophies. We’re now looking forward to a new chapter in our growth following the acquisition and look forward to working with our clients across Scotland.”