Fast-growing Lync Wealth Management, part of 7IM, has acquired two South East-based Financial Planning firms, Scott Financial and Latham Consultancy Ltd, for undisclosed sums.
Both firms are based in Fleet, Hampshire where they share an office and have approximately £210m of assets under advice.
The acquisitions expand Lync's footprint in Fleet, building on its existing presence in the town and its hub at the Fleet Business Park in Church Crookham.
Scott Financial provides Financial Planning and wealth management services to around 700 individuals and families. It was founded by Paul and Wendy Scott in 2003, and remains a family business.
The founders’ son, James Scott, is an adviser at the firm, and their daughter, Amy Scott, is a paraplanner. Both will join Lync alongside their adviser Sophie Donoghue, and six support colleagues.
Paul Scott, senior financial adviser and MD of Scott Financial, said: “Wendy and I founded Scott Financial more than 20 years ago, and many of our clients have been with us for much of that time. We’re a true family business with our children James and Amy both working as part of the team for nearly a decade. Looking after our clients was our priority in choosing a partner.”
Latham Consultancy is also a Financial Planning business, with approximately £55m assets under advice. Its adviser Mark Latham has been building client relationships for 35 years and working with Scott Financial since 2018.
Mark Latham, Chartered Financial Planner, said: “I’ve spent 35 years building relationships with my clients, and in many cases, I now look after their children too. Having shared an office with Paul, Wendy and the team since 2018, I’ve seen first-hand how they look after people, so joining Lync together felt like the natural next step.”
Clients of both firms will continue to work with the advisers and support team they know, from Scott Financial's existing Fleet office. Both businesses will move to the Lync brand, and clients will benefit from the additional resources, expertise and scale of a national wealth management business.
The acquisitions follow Lync's recent acquisition of TKV Financial Management in the West Midlands, and of two Belfast firms Carleton Financial Planning and RJ Savage Asset Management.
Backed by its owner, an affiliate of the 7IM Group, Lync now has 25 locations and more than 220 employees, serving clients with more than £4.4bn in assets under management (AuM).