Financial advice and fund management group One Four Nine has acquired Glasgow-based McCrea Financial Services for an undisclosed sum.
The firm said it is One Four Nine’s “largest acquisition to date” and is the company’s third acquisition in Scotland following deals to buy Glasgow-based APC Financial Solutions & Consultancy Services and Aberdeen-based Russell Gibson Financial Management.
McCrea Financial Services is led by industry veteran Douglas McCrea and services individual and corporate clients throughout the UK primarily across the west of Scotland.
The deal expands the group’s national footprint with 31 advisers now servicing 4,000 clients with £1.3bn from seven locations, plus it head office, across the UK.
The acquisition follows the recent expansion of its leadership team with the appointment of Barry Strathearn as chief compliance officer and Stuart Harding as chief operating officer.
CEO Matthew Bugden said: “I am delighted to welcome the McCrea team to One Four Nine Group and see our energetic momentum for growth continue at pace for 2023. This is the single largest purchase we have made and highlights the depth and scale achieved in just over a year. We are now a sizeable business overseeing more than £1.3bn of client assets and expect to continue this progress over the next 12 months.
“With seven locations now established across the UK, plus our head office and an experienced and entrepreneurial leadership team in place, our integration strategy will now be rolled out to drive operational efficiency, and enable our high quality advisers to spend more time delivering excellent service to our valued customers.”
Overall, the firm has now made seven acquisitions since its launch in 2021, most recently it bought Nottingham-based HFL Financial Advisers for an undisclosed sum.
This article first appeared on our sister title International Adviser.
