British wealth manager Brewin Dolphin has wrapped up the acquisition of the financial planning and investment assets of Dundee-based Clark Thomson Mortgagefinders.
The deal, whose financial terms were not disclosed, adds 150 new clients to Brewin Dolphin’s Dundee office.
The acquisition was the result of Clark Thomson director David Hogg’s longstanding relationship with Brewin Dolphin’s Dundee office head Ian MacDonald.
Hogg, who will retire after 35 years in the industry, said that he chose Brewin Dolphin owing to its financially strong position with a local presence.
“Being the only investment adviser at Clark Thomson MortgageFinders Ltd meant there were limited options for us, and so with three experienced financial planners in the Brewin Dolphin Dundee team, this means they can offer professional advice and a wider range of services. As I am retiring, the acquisition does not involve taking on any employees, who will remain with Clark Thomson Mortgagefinders Limited, giving advice on mortgages and non-investment life insurance policies, which is headed up by owner/director Maureen Dye,” Hogg stated.
Brewin Dolphin’s Dundee office was founded in 1998. The office currently employs 13 staff, including three financial planners and three investment managers.
“I have known David Hogg for over 25 years and have every confidence that he ran a quality business. Our styles and philosophy are very similar, and I saw his clientele as being a good fit for us,” MacDonald said.