Financial advice firm Wren Stirling has acquired counterpart group TD Armstrong in a deal which will lead to £116 million being secured.
It is the third acqusition by Nottingham -based Wren in the last three years and follows deals of back books from First Trust Bank in Northern Ireland and Leek United Building Society.
Under the terms of the latest agreement, Wren Sterling will secure about £116 million of assets under advice, which takes its total assets under advice to £3.3 billion.
Ian Halley, Wren Sterling’s CEO, said: “This acquisition is an exciting step for Wren Sterling because it further supports the growth of our business."
As part of the deal, Max Horne, Trudi Horne and Fraser Rowan from T D Armstrong will all join Wren Sterling and work from its Glasgow office.
Mr Halley, who joined Wren from Aviva in 2016, added: "I’m looking forward to working with Max and his team to embed these clients into our business ensuring they continue to have access to independent financial planning services."
Mr Halley also confirmed that as part of its growth plans, Wren is looking for "opportunities to acquire more businesses and/or back books, where there is a good cultural fit between the businesses and it’s clear that a transaction will secure clients’ access to advice and enable advisers to plan for their succession.”
