Ambrose Fisher is a Chartered Financial Planning firm and will add £62m in assets under management to the group.

Skerritts said the deal will extend its presence in the region as the firm looks for further acquisition opportunities.

Paul Feeney, CEO of Skerritts, said: “Adding a high-quality Chartered Financial Planning firm such as Ambrose Fisher to the group enables us to not only increase our presence in the South East, but also moves us one step closer to becoming Britain’s premier Chartered Financial Planner. We very much look forward to working with Simon and welcoming him to our great team at Skerritts.”

Skerritts has a head office in Brighton and Hove with about 50 staff serving 35,000 clients.

In March 2021, UK private equity firm Sovereign Capital Partners invested £55m in Skerritts to fuel expansion.

Skerritts said the investment has enabled it to speed up its expansion plans and since the new investment Skerrits has acquired nine firms, including six within the last 18 months.

In 2022, Skerritts completed four acquisitions, adding new offices in Kent, Hampshire and London and about £560 million of AUM.

In January this year, another acquisition was announced with the purchase of Kent-based Financial Planning Firm, Equinox Wealth Limited, which brought another £62 million of AUM.

In March Skerritts acquired Horsham-based Financial Planner Mercier Allen & Associates, adding £73m of assets under management. 

Simon Fisher, director of Ambrose Fisher, said the firm had been looking for an acquirer as part of its succession planning.

He said: “I have spent some considerable time looking thoroughly at potential companies that could ensure that we are fully resourced and are able to continue to offer the full range of services to our clients. I have also been taking a longer-term view with regards to succession planning. It was obvious that Skerritts are the best choice for the safeguarding of our clients’ financial future.”

Skerrits is a Chartered Financial Planning firm and discretionary investment manager based in the south west. It has acquired several Financial Planning firms in the south of England in recent years.