Ascot Lloyd expands, seeks more deals

Ascot Lloyd buys financial firm

In making a small acquisition, which brings another £90m of assets under management under the group’s umbrella, the UK-based financial advice company Ascot Lloyd has made it clear that it is on the lookout for further deals.

Ascot Lloyd has bought UK-based Harvard Financial Management for an undisclosed sum. While only incremental by itself, adding only around 5% to funds under management, chief executive Richard Dunbabin makes it clear that the deal is part of a strategic plan to expand both geographically and into new areas of expertise.

Describing the deal as “a strategically significant acquisition,” Dunbabin says that it will complement his company’s proposition in specialist areas such as pension transfers. Encouraging others to take note of the group’s ambition, he adds that: “We remain acquisitive and will continue to look for similar businesses that can contribute to our mission of building the UK’s leading national IFA firm.”

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