Gilson Gray Financial Management (GGFM) has acquired Edinburgh-based practice Sarah Hughes Wealth Management.
This latest deal takes its total assets under management to nearly £500m - a 40% increase in 12 months - following the purchase of North Berwick-based Scott Wallace Financial Planning at the end of last year.
Sarah Hughes has been a senior partner practice of the St James’s Place network since 1997, specialising in providing advice to high net-worth individuals across the UK.
Hughes, a chartered financial planner with nearly three decades of experience, and her team will join GGFM, giving clients access to Gilson Gray’s integrated legal and property services.
The purchase is GGFM’s first in 2023 and forms part of a strategic acquisition and organic growth plan over the next few years.
The deal is also Gilson Gray’s second of the week, following the announcement on Monday of the firm’s acquisition of The Law Practice in Aberdeen.
Steve Herkes, managing director of GGFM, said: “I have known Sarah for several years, she has a reputation as a high quality financial planner with a huge focus on tailoring services to her client’s needs.
“She will be a great addition to our team, mentoring more junior colleagues and helping to develop our private client proposition.
“Bringing Sarah Hughes Wealth Management on board is the first in a series of deals we hope to conclude in 2023, which will increase our presence and offering across Scotland, building on a very active past couple of years.”
Hughes added: “Rather than focusing on the size of the business, I have always wanted to maintain the level of service my clients have come to expect.
“Joining the GGFM team will provide us with the regulatory and administrative support we need to remain focussed on our client’s needs while providing added value through the wider Gilson Gray offering.”
GGFM is the investment arm of one of Scottish law firms Gilson Gray. It is a partner practice of St James’s Place Wealth Management.
Established in 2014, Gilson Gray has become one of Scotland’s most-acquisitive law, property and finance firms, with 290 staff across six offices in Aberdeen, Dundee, Edinburgh, Glasgow, North Berwick and Lincoln.
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