St James’s Place (SJP) has bought Linlithgow-based financial advice firm Policy Services (PSL).
PSL, which was founded in 2002, has been a longstanding provider of administration, fee reconciliation and advice services to partners of SJP and their clients who hold non-SJP policies and plans.
Following the acquisition, PSL will be fully-owned by SJP but continue to operate as an independent trading entity, authorised by the Financial Conduct Authority.
It will retain its own name and brand and there will be no changes to business operations in order to give clients “clarity”.
SJP establishment director Peter Edwards said: “This acquisition is a natural next step in the continuation of a long-standing and successful business relationship.
“We look forward to Policy Services further strengthening the services it offers to partners and clients who hold non-SJP products in their portfolios.”
The financial terms of the deal were not disclosed and the acquisition is subject to regulatory approval.
