Scott James & Associates has purchased a fellow St James’s Place appointed representative firm, due to the retirement of its leader Brian McAulay.
The practice is located in Cruden Bay, in which McAulay has spent the past seven years with St. James’s Place, and 17 years in the financial services industry, following a career in the oil and gas industry.
The deal extends the Aberdeen-based firm's reach throughout the north of Aberdeenshire, and will see it provide investment, protection and tax advice.
It is the company’s second acquisition in the past three years, following the opening of an office in Blairgowrie in 2019. Scott James & Associates has grown from three people to an 11-strong team, including four financial advisers.
The company ended last year strongly, breaking through the £100m funds under management barrier, and now supports more than 720 clients.
Director Scott James commented: “The purchase of Brian’s business is an ideal fit for us as we look to broaden our reach across the North East and I look forward to the opportunity to meet, build and strengthen relationships with these clients over the coming weeks and months.”
MacAulay plans to spend his retirement playing golf, gardening, playing music, travelling around the Scottish islands, and enjoying time with his family; including nine grandchildren.
He said: "After nearly two decades in the financial services industry, I have finally decided it is time for me to retire and enjoy a more relaxing lifestyle.”
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