The combined entity, which is to be branded Ascot Lloyd, will have 168 staff across 10 locations including London, Manchester, Wokingham, Cardiff, Rickmansworth, Harrogate and Wolverhampton.
The enlarged firm will provide financial planning services for personal and corporate clients incorporating protection products, investment products, pension planning and tax planning.
According to the firm the merger will make Ascot Lloyd one of the UK’s largest independent financial adviser firms.
Ross Hyett, managing partner of the PFP Group will join the board of Ascot Lloyd.
“Ascot Lloyd and the PFP Group are very closely aligned and the combined firm will benefit from synergies through pooling resources and professional experience,” said Richard Dunbabin, at Ascot Lloyd’s chief executive. “As a group we are acquisitive. We believe the need for high quality independent financial advice has never been greater. We will enhance and grow our national footprint by offering independent financial advice to all segments of the market, from the high net worth to those with smaller portfolios.”
“This is an exciting stage in the development of the PFP business,” said Hyett. “Joining Ascot Lloyd will allow us to expand and develop the range of services we offer, creating exciting opportunities for clients and staff.”
