Thorntons says its first two acquisitions add £175m AUM to the £420m Thorntons Investments manages on behalf of clients.
Both of the acquired firms will keep their existing models and leadership before being merged with the Thorntons Investments brand “in due course.”
However the deals will see back-office systems and support functions being integrated straight away.
Thorntons plans further acquisitions.
Aberdeen-based Matheson Financial Consulting was founded by Rory Matheson in 2003 and is an IFA with £130m AUM, providing whole of market financial advice to clients.
Launched in 2017 by Chris Forde, Sonas Wealth Management provides Financial Planning to individuals, families and businesses in Dundee, Angus and the surrounding areas. It currently has £45m AUM.
Thorntons Investments was first established in 1995 as part of Thorntons Law LLP but became a company in its own right in 2014 and now has over 30 staff working in offices across Dundee and Edinburgh.
Thorntons offers Financial Planning, discretionary management with a range of model portfolios and an AIM Inheritance Tax Portfolio Service.
Thorntons Investments CEO Stephen Webster said: “These deals are an important milestone for us. After many successful years, we were keen to start seeking out promising partners who could help us expand our footprint and continue strengthening our Financial Planning proposition.
“Both Rory and Chris have built up strong reputations locally along with an enviable client base, meaning we will benefit not just from greater efficiencies of scale - which will enable us to streamline services for existing clients - but also their many years of expertise in the business.”