Fast-growing Bristol-based financial services provider Clifton Asset Management has hit the takeover trail again, chalking up its fourth deal in nine months and sixth overall.
The acquisition of financial advisory firm GB Financial Services increases Clifton’s assets under management (AUM) to around £1.2bn – a rise of more £500m since the firm expanded its ‘buy and build’ strategy last July after received substantial funding from independent asset manager Boost&Co. 
Clifton said it was also in active takeover conversations with a number of advisory firms strategically located around the UK, including in the South West, West Midlands, South Wales, Aberdeen and Portsmouth.
GB Financial Services has built a strong reputation providing high-quality advice and service to its 550 clients in and around Wolverhampton and Dudley in the West Midlands.
GB’s principals Barry Hamblett and Sally Mynett will join the Clifton Wealth Partnership advisory team on a consultancy basis for two years to assist with the handover of clients to two advisors based in Wombourne, Staffordshire.
Barry 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 its proposition is outstanding.
“This has given us confidence to introduce Clifton to our clients in the knowledge that they can provide the product range, along with service and technology levels that can at times be challenging for a local financial advisory business. We know therefore, that our clients are in good hands.” 
Six smaller advisory firms have joined Ham Green-based Clifton since it adopted its expansion strategy more than two years ago, allowing them to compete with larger rivals by gaining access to the technology, services and products offered under the Clifton umbrella.
Clifton group financial planning director Anthony Carty, pictured, 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.”
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.
