Seventh acquisition for Clifton Asset Management as its ‘slick operational infrastructure’ kicks in

February 2, 2024

Acquisition-hungry Bristol financial services provider Clifton Asset Management has notched up another takeover as it aims to further disrupt the market.

The firm, which has £1.5bn in assets under influence, has snapped up Portishead-based Pure Advanced Financial Planning – its seventh acquisition in recent years. 

Clifton bosses have said they have a ‘strong pipeline’ of takeover targets this year as they continue to look for further growth opportunities.

Ham Green-based Clifton Asset Management has operated a ‘buy and build’ strategy for several years.

It undertook a flurry of takeovers in 2022 and early last year after receiving substantial funding from independent asset manager Boost&Co.

This strategy allows these smaller businesses to compete with larger rivals by gaining access to the back-office system, technology, services and products offered under the Clifton umbrella.

Now renamed Clifton Wealth Partnership (Portishead), Pure Advanced Financial Planning has become an appointed representative (AR) of Clifton with £75m assets under advice and 320 clients.

Clifton group financial planning director Anthony Carty, pictured, has in the past said its acquisition approach would “disrupt the established advice firm acquisition model”.

Earlier this week he told the Citywire New Model Adviser website  that Clifton had “spent a lot of time and money creating a slick operational infrastructure” to attract advice firms to join its network.

“It’s well known there are some other firms that have raised money, acquired a lot of firms, but didn’t have the technology or infrastructure to help knit those firms together,” he added.

“We’ve done it the other way around by investing off our own balance sheet into technology and systems.”

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).

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