Financial advice and fund management group One Four Nine has acquired west of Scotland planning firm McCrea Financial Services.
The group's largest acquisition to date expands its national footprint, with 31 advisers now servicing 4,000 clients and £1.3bn in assets, from seven locations plus its head office.
Established in 1999, McCrea holds Chartered status and was also one of the first firms in the UK to be awarded Investor in People Platinum status.
The acquisition of McCrea is a further step in One Four Nine’s plan to build a nationwide, integrated financial advice and fund management business. It follows the recent leadership team expansion, with Barry Strathearn joining as chief compliance officer and Stuart Harding assuming the chief operating officer role.
Furthering strengthening of the senior team is set to be announced in the coming weeks.
One Four Nine's chief executive Matthew Bugden commented: “This is the single largest purchase we have made and highlights the depth and scale achieved in just over a year.
“Our integration strategy will now be rolled out to drive operational efficiency, and enable our high quality advisers to spend more time delivering excellent service to our valued customers.”
Douglas McCrea, managing director at Glasgow-based McCrea Financial Services, said: “After almost 40 years in the industry I felt a huge responsibility to ensure the future of our staff and clients are in good hands for the many years ahead.
“Having spoken to many companies over recent years they were a stand out and my staff and I are looking forward and excited for the next stage in our journey as of a nationwide, independent advisory firm delivering excellence in customer service looking after our clients.”
One Four Nine chief financial officer Patrick Goulding added: “I have got to know Douglas well over recent months - he is an exceptional individual with a tremendous track record and a strong work ethic.
“We are delighted that he will be continuing with the business and we know he and his excellent team will remain focused on their core strengths of client advice and business development.”
In the last 12 months, the group has acquired Glasgow-based APC Financial Solutions & Consultancy Services, as well as Aberdeen-based Russell Gibson Financial Management.
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