A group of advisors have left Dunedin Independent, the Edinburgh-based wealth management firm that was acquired less than a year ago for around £4 million by Helvetia Wealth, according to Citywire, citing regulatory filings.

The 16 advisors have defected to new company John Kerr Financial Services, which trades as Melville Independent, the news service reported. Melville and JKFS were started in May this year.

Helvetia and Dunedin Independent had not responded to emails or phone calls from this publication at the time of going to press.