14th October 2024
Ascot Lloyd has been quietly expanding its presence in the financial advisory market and its national presence through strategic acquisitions. One of its key moves this year was acquiring Bristol-based wealth manager Whitechurch Securities. The deal was finalised in April, following Kean Seager’s decision to sell his majority stake, allowing Ascot Lloyd to strengthen its portfolio. Whitechurch remains under its original brand, with Ascot Lloyd’s investment director, Steven Lloyd, joining its board to oversee the integration.
Whitechurch faced declining profits, with pre-tax profits falling from £530,000 to £116,000 and turnover decreasing to £4.6m by February 2023. However, Ascot Lloyd sees this acquisition as an opportunity to reinvigorate Whitechurch’s direction and integrate its offerings into Ascot Lloyd’s broader portfolio. In addition to Whitechurch, Ascot Lloyd acquired Fife-based Create and Prosper Financial Services, adding £254m in assets under advice. This move aligns with the company's strategy to support smaller firms facing increasing regulatory pressures.
With backing from Nordic Capital, Ascot Lloyd has completed over 80 acquisitions, focusing on businesses that align with its values. The appointment of Francis Jackson as the new CEO, replacing long-serving leader Nigel Stockton, further signals Ascot Lloyd’s commitment to growth and innovation.
This series of acquisitions showcases the ongoing consolidation in the wealth management sector. Firms such as Ascot Lloyd are taking advantage of opportunities to expand their reach and integrate smaller firms that are facing market challenges. As regulatory demands increase and client expectations change, these transactions highlight the necessity of scalability and operational alignment to maintain a competitive edge.
As industry consolidation continues, Chapters Capital specialises in helping financial planning and wealth management firms navigate mergers and acquisitions. Our goal is to ensure smooth transitions and create customised growth strategies. Whether you want to sell your business or expand, contact one of our professional associates today for a confidential, no-obligation consultation to discuss how we can support your next steps.