M and A
Deals Of The Day: The Latest In Wealth Management M&A - Ascot Lloyd
The latest M&A deals in wealth management.
Ascot Lloyd
Ascot Lloyd, the
UK independent financial advisory firm, has bought fellow UK
businesses Prest Financial Planning and QS Financial.
Prest Financial Planning is a Stockport-based IFA employing six
financial planners and 26 employees in total. It brings more than
£3 million of revenues and more than £1 million in earnings
before interest, taxation, depreciation and amortisation to Ascot
Lloyd, managing approximately £350 million in assets. Following
completion, Prest will become incorporated by the Ascot Lloyd
brand.
QS Financial, based in Bromsgrove, will take more than £65
million of additional funds under management into the group. It
adds to Ascot Lloyd’s presence in the West Midlands region,
building on the recent acquisition of Newell Palmer.
Financial terms of the transaction were not disclosed.
These transactions are happening at a time of consolidation
across the UK and European wealth management industry, driven by
rising costs and a desire for scale.
