Ascot Lloyd has completed the acquisition of Swansea-based independent financial adviser (IFA), Portfolio Financial Consultancy, for an undisclosed sum.

The move has seen Ascot Lloyd acquire all the shares in Portfolio Financial Consultancy and therefore the whole business, adding £323m in assets under management (AuM) to the firm.

Established in 2004, Ascot Lloyd has grown rapidly through bringing smaller IFA firms into the fold and is now one of the largest independently owned wealth management firms in the UK.
Portfolio Financial Consultancy’s team will continue to be based in Swansea in their existing offices, with the acquisition to see its 19 members of staff move across to join Ascot Lloyd.

A statement from Portfolio Financial Consultancy said: “Portfolio Financial Consultancy Ltd has become part of Ascot Lloyd, which is one of the UK’s leading IFA firms. Ascot Lloyd is dedicated to building tailored, lasting relationships with clients and their wider families and associates.”

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