The acquisition of AFP, which is a part of Aberdeen Group’s Interactive Investor, adds a further 6,300 clients and £3.6 billion ($4.85 billion) of assets under advice – taking the respective totals to almost 44,000 and £14.5 billion. The deal will also see almost 60 advisors joining Ascot Lloyd, bolstering its distribution presence across the UK and taking total advisor headcount to over 220.

As well as adding geographic scale, the acquisition will help to accelerate Ascot Lloyd’s growth in both the high net worth category, and in the younger client segment, where Ascot Lloyd can use AFP’s advice offering. 

“The acquisition takes our total client coverage to almost 44,000 across the UK, and we see a significant amount of value in the client profile that Aberdeen has typically served – at both ends of the asset value spectrum,” Francis Jackson, chief executive officer at Ascot Lloyd, said. “This acquisition meaningfully increases our scale, capabilities and expertise and will further support our continued growth – both organically and inorganically – while excelling in our delivery for clients.”

The deal follows the firm's recent appointment of Eden Scrivenger as its chief technology and operations officer, subject to regulatory approval. The new role brings together Ascot Lloyd’s technology and client services and operations teams, with the aim of embedding technology into the fabric of its operations. 

UK-based Ascot Lloyd is an independently-owned IFA UK firm, with about £11 billion in funds under advice. The group provides financial planning, wealth management and corporate benefit solutions through over 150 IFAs serving more than 37,000 clients. Employing over 600 staff, the business operates from 26 locations nationwide and is supported by Nordic Capital, a European private equity investor.