Financial Planning firm Calton Wealth Management has acquired fellow Scottish adviser firm Morrison Personalised Wealth Management (MPWM), its first acquisition.

Morrison’s founder and managing director Ian Morrison will join Edinburgh-based Calton today as an employed adviser.

Calton was founded in 2021 by experienced IFA and Financial Planner Tom Ham. It offers bespoke Financial Planning to clients and has offices in Edinburgh, London and the Scottish Borders.

Calton differentiates itself by charging fixed fees to clients for their financial plans and then a maximum implementation fee of 1% of any money invested.

Mr Morrison founded MPWM in 2016 following a career with a chartered IFA and was founding partner at Prudential Financial Planning. He is a Chartered Fellow of the CII and CISI.

Mr Morrison said: “I am thrilled to be joining forces with Calton. My work is guided by the ethos of providing the highest quality, professional and personal service to clients for a reasonable fee. 

“With the regulatory world changing, there is more pressure on smaller firms to join vertically integrated firms and to then become a salesperson for the bigger firm’s products. By contrast, I’m confident that by joining Calton, I will be joining a business that shares my values, one that is independent, client-centric and focused on the highest quality advice and services.”

Mr Ham said: “This first acquisition is an important milestone for all of us at Calton. MPWM is a great business with its clients’ best interests firmly at its heart and that’s down to the culture that Ian has grown there. He also has a vast amount of experience and technical knowledge which he is keen to pass on.

"Ian will play a vital new role in the business as we go forward: his mentorship and expertise will be invaluable in shaping the next generation of Calton advisers.”