EFG Private Bank has integrated its UK IFA businesses to create a unified firm called EFG Independent Financial Advisers.

The new firm, which is the product of the amalgamation of EFG Ashby London and EFG Platts Flello, has two offices in the Midlands - in Birmingham and Wolverhampton - along with a base in London. It serves private clients, trusts, businesses and entrepreneurs.

Peter London is chairman of the board of EFG Independent Financial Advisers, while John Male has been named as managing director.

The UK IFA industry has been going through a transformational period in recent years, characterised by increased M&A activity and firms revising their business models and branding. Along with the inevitable churn caused by the financial crisis of a few years ago, tightening regulation and rising costs are driving much of the change in the industry and stimulating trends such as the rising numbers of advisors opting to outsource discretionary investment management.