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An expanding Bristol-based financial services firm has completed its fourth acquisition in nine months.

Clifton Asset Management has bought West Midlands-based GB Financial Services to take its assets under management (AUM) to £1.2bn.

The agreement, financial details of which were not disclosed, sees GB’s 550 clients added to the growing group, which has cracked a total of six deals so far.

Anthony Carty, group financial planning director at Clifton, said: “2023 has started strongly with this announcement, but what is equally as exciting is that we have a pipeline of further acquisitions which should see group AUM increase to circa £2bn over the next 12 months.

“This will be an AUM growth of around £1.5bn in just 18 months – proving once again - the success of our ‘buy and build’ acquisition strategy, and the compelling proposition that we offer smaller advisory firms in the market.”

Mr Carty has previously said Clifton is targeting £5bn AUM “by 2027”.

Clifton bosses added that GB’s offices and staff in Wombourne near Dudley would be retained, while the company’s directors Barry Hamblett and Sally Mynett would join the business on a consultancy basis for two years, to assist with the handover.

Mr Hamblett said: “This is hugely important for GB Financial Services and the clients we’ve worked with so closely for more than 30 years. Clifton has an excellent reputation, and their proposition is outstanding.