Bristol-based pension-led funding specialists Clifton Asset Management has hit the acquisition trail, snapping up one firm with another half a dozen in the pipeline, as it looks to disrupt the sector.
The firm has completed the takeover of Leonard Gold Financial Management and is reported to have two others in due diligence. 
Portsmouth-based Leonard Gold has been an appointed representative of Clifton Asset Management’s Clifton Wealth Partnership subsidiary for the past two years while preparing for the sale.
Clifton Wealth Partnership was set up as a vehicle for smaller advisory firms to either become appointed representatives or join the firm via acquisition.
At the time the firm said it wanted to “disrupt the established advisory firm acquisition model” by targeting acquisitions that would create a regional network of small financial advisory businesses.
It made one takeover, Shrewsbury-based Plan For Life Wealth Management, straight away and has now resumed its ambition.
According to FTAdviser, Clifton has two firms going through the due diligence process – one in Scotland and one in Wales – and a further six in various stages in the process as it pursues its aim of to “disrupting the established advisory firm acquisition model”.
If all are successful, the firm’s assets under management would soar from £600m to around £2bn. 
Clifton Wealth Partnership allows 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 appointed representative (AR) status.
Leonard Gold’s membership has meant that its clients have transitioned to Clifton’s array of services and technology while at the same time being introduced to their new advisor, who will be taking over from its retiring principle Nas Khan.
Clifton group financial planning director Anthony Carty, pictured, said: “It’s been a delight working with Leonard Gold and Nas over the past two years.
“He has always provided a first-class service to his clients and going forward we will build on these strong relationships.
“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 added: “I have greatly enjoyed my 20 years working at Leonard Gold, meeting many wonderful people as the firm has grown.
“It has been a pleasure working with Clifton over the past two years to ensure a seamless transition to their service, and I can now leave the business knowing that all of our clients are in very experienced hands.”
Ham Green-based Clifton is one of the largest providers of alternative business finance in the UK.
Its 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).
