AN independent fund management and financial advice firm has announced its second acquisition in Scotland in a matter of weeks as it pushes forward its expansion plans.

London-headquartered One Four Nine Group said the acquisition of Aberdeen-based Russell Gibson Financial Management helps grow its footprint further north of the Border.

The deal follows its acquisition of APC Financial Solutions & Consultancy Services in Glasgow, and increases its assets under management to more than £800 million, across 2,500 clients and taking staff numbers close to 70.

When it announced the APC acquisition last month it said it brought assets under management to £650m across almost 2,000 clients, with staff numbers then over 50.

The Aberdeen purchase is the firm’s fifth acquisition, it said.


READ MORE: London fund manager expands into Scotland with Glasgow acquisition


Russell Gibson Financial Management was set up in 2007, although the founder’s experience in providing financial advice extends back to 1994.

The team delivers “quality advice including, where appropriate, tax efficient alternative investments”.

Gabrielle Beaumont, One Four Nine managing director, said: “Scotland is a key area of expansion for us, having spent considerable time since launch seeking high quality businesses in the region whose values and commitment to excellent customer service match our own.

“I am delighted to welcome the Russell Gibson team to the One Four Nine family and look forward to helping them focus on what they do best – putting their clients first.”

Alan Ball, founder of Russell Gibson Financial Management, said: “Since inception we’ve built a firm that places clients at the heart of everything we do. One Four Nine Group embodied all the qualities we value – strong leadership, specialist expertise in tax efficient alternative investments, a collegiate culture, and impressive infrastructure for future development.

“Their obvious commitment to excellent customer service was pivotal in our decision as it meant ensuring our clients continue to receive the very best financial care available. Myself and the very talented team at Russell Gibson are very excited to begin this new chapter and flourish as part of the One Four Nine team.”

One Four Nine Group also said it recently launched its tax efficient alternative investment panel for all its locations and advisers following a comprehensive screening of product providers and fund managers.

With preferential pricing terms for One Four Nine clients, the panel also includes a "special and unique" One Four Nine Sustainable Growth EIS offering, the firm said.

It added: “The group’s deep sector knowledge in tax efficient alternative investing has proven to be a strong differentiator in the market, offering vendors and their teams the chance to either safeguard the service already provided to suitable clients long after the acquisition is completed or allowing advisers who don’t currently specialise in this area to broaden out their suite of client services.”