Clifton Asset Management, the Bristol-based financial services provider, has completed its third acquisition in as many months, bringing its assets under management to more than £1bn for the first time.
The takeover of Caerphilly-based financial advisers Mark Phillips Ltd is the latest in Clifton’s ‘buy and build’ strategy since it secured substantial funding earlier this summer from Boost&Co. It said several more in the pipeline were expected to complete early next year. 
The acquisition of Mark Phillips adds more than 250 clients with assets under management (AUM) of £40m to Clifton’s portfolio. In just three months Clifton has boosted its AUM by £350m through takeovers.
Under the strategy smaller advisory firms such as Mark Phillips can quickly compete with larger rivals by gaining access to services and products under the Clifton umbrella – by either joining via acquisition or appointed representative status.
Clifton, based at Ham Green, adopted the strategy two years ago and went on to make two acquisitions. However, the funding from Boost&Co has enabled the firm to take it to a new level this year.
Clifton described Mark Phillips as a highly experienced and well-respected independent financial adviser with more than 40 years of industry experience.
Clifton group financial planning director Anthony Carty, pictured, said: “We are particularly thrilled to be working with Mark and his clients. His client focus and commitment to great outcomes mirrors our philosophy at Clifton. 
“Whilst Mark will be working with us for a couple of years to help transition clients over to Clifton, we hope that after all his years of providing a dedicated service to clients, he can move into retirement knowing that his clients are being very well looked after by the Clifton team.
“This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned. We aim to complete on several other acquisitions in the early part of 2023.”
Mark Phillips added: “I looked at a variety of options and talked to potential acquirers but after a very positive series of meetings I knew that Clifton was a good fit for my clients.
“They are clearly very competent and having made multiple acquisitions they are very experienced in smoothly transitioning clients across over to the Clifton proposition.”
He said many of his clients had been with him a long time, some for more than 40 years, so it was particularly important that he made the right choice.”
“Clifton has a disciplined and repeatable process to ensure that clients are getting good advice and good ongoing service,” he added.
“It’s not a revolution for the clients, it’s an evolution into a firm with more resources and the capabilities to service the clients going forwards. It’s a good match and I know I’m placing my clients in a safe place.”
Clifton’s core business is assisting owner-managers of small and medium-sized enterprises (SMEs) in the UK to raise business finance, mainly through the use of Small Self-Administered Pension Schemes (SSASs) and Self Invested Personal Pensions (SIPPs).
Full details of Boost&Co’s funding for Clifton have not been disclosed.
