The deal will see the wealth manager’s Dundee office gain 150 additional clients.
The amount paid in the deal has not been disclosed.
Brewin Dolphin’s Dundee office first opened in 1998 with 10 staff. Currently, it has a team of 13, including three fully qualified financial planners and three investment managers.
The deal came about as a result of a longstanding relationship between Ian MacDonald, the wealth manager’s Dundee office head, and David Hogg, one of the directors and owners of Clark Thomson Mortgagefinders.
Hogg, who is due to retire after 35 years in the industry, said he was looking for the “best local outlet for my clients” and selected Brewin Dolphin because of its financially strong position and local presence.
“Being the only investment adviser at Clark Thomson Mortgagefinders meant there were limited options for us, and so with three experienced financial planners in the Brewin Dolphin Dundee team, this means they can offer professional advice and a wider range of services.”
As Hogg was the sole financial adviser at Thomson Mortgagefinders, Brewin Dolphin will not be taking on any new employees.
Commenting on the deal, MacDonald said: “As people’s financial lives become more complex, and the economic climate more uncertain, we have seen an increasing need for trusted and expert advisers to take the strain from those who need help with their finances. We are keen to continue serving the financial needs of our local clients, with the strength and influence of the Brewin Dolphin name behind us.
He added: “I have known David Hogg for over 25 years and have every confidence that he ran a quality business. Our styles and philosophy are very similar, and I saw his clientele as being a good fit for us”.
