Bristol-based financial services firm Clifton Asset Management has completed the acquisition of Portsmouth's Leonard Gold Financial Management.
The deal is the first of a number of acquisitions Clifton is planning to make before the end of the year, it said.
Leonard Gold, which based in Southsea, has been an appointed representative of Clifton Wealth Partnership for the last two years while preparing for the sale. The firm's partner, Nas Khan, is retiring.
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Clifton’s group financial planning director Anthony Carty said: "It’s been a delight working with Leonard Gold and Nas over the last two years.
"He has always provided a first-class service to his clients and going forward we will build on these strong relationships."
Since 2019, the Clifton Wealth Partnership has been allowing smaller advisory firms, such as Leonard Gold, to compete with larger rivals by providing access to services and products under the Clifton umbrella – by joining via acquisition or AR status.
Mr Carty added: "There have been many benefits of working with Leonard Gold as an AR firm, with clients not only becoming accustomed to our leading systems and processes, but it has also allowed us to work very closely with Nas on the transition of all clients to their new advisor.”
Nas Khan of Leonard Gold Financial Management, said he could now leave the business knowing its clients were in "very experienced" hands.
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"I have greatly enjoyed my 20 years working at Leonard Gold, meeting many wonderful people as the firm has grown", he said.
"It has been a pleasure working with Clifton over the past two years to ensure a seamless transition to their service."
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