The owner of Capital’s appointed rep firm, John Mortimer of MP2 Financial, has also joined Tilney.

The firms joined under Tilney’s succession programme for financial advisers approaching retirement.

Both Edinburgh-based businesses offer Financial Planning, retirement, and investment planning services to individuals, families, businesses and trustees.

Directors Grant Walker and Willie Crockett will move into Tilney’s Edinburgh office along with eight Financial Planning, Paraplanning and administration staff.

Mr Crockett said: “We are proud of the business that we have built up in the last nine years and last year we began to think carefully about the future. We have come to recognise the benefits of being part of a bigger group with significant resources.”

Mr Walker added: “Willie and I have given much thought in recent years to the long-term future of the business. From the outset, the team at Capital Risk Management has been committed to providing the highest level of expertise and service to all our clients so the bar was high in choosing a long-term home for our clients and colleagues.”

Mr Mortimer said the deal would provide his clients, with “security in the knowledge that they will benefit from the resources of a national wealth management firm but at a local level.”

Tilney Smith & Williamson is one of the UK’s largest integrated wealth management and professional services groups, with £57.7bn of assets under management. It is due to re-brand to Evelyn Partners this summer.