Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Brewin Dolphin buys Scottish IFA's client book

Brewin Dolphin buys Scottish IFA's client book

Brewin Dolphin has acquired 150 clients from retiring independent financial adviser (IFA) David Hogg.

Hogg, who is retiring after 35 years in the industry, ran adviser Clark Thomson MortgageFinders, which provides advice on investment, pension and various aspects of tax planning in addition to mortgage brokerage. He was the only investment adviser in the business.

A Brewin Dolphin spokesperson declined to say how much in client assets the business managed.

The acquisition, for an undisclosed fee, came about as a result of a longstanding professional relationship between Hogg and Ian MacDonald, head of Brewin Dolphin’s Dundee office.

MacDonald said: 'As people’s financial lives become more complex, and the economic climate more uncertain, we have seen an increasing need for trusted and expert advisers to take the strain from those who need help with their finances.

'We are keen to continue serving the financial needs of our local clients, with the strength and influence of the Brewin Dolphin name behind us.

He added: ‘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.’

Hogg said: ‘I was very keen to make sure I found the best local outlet for my clients and had no hesitation in recommending Brewin Dolphin to them.

'They are a financially strong company with a local presence. I had also known Ian for many years and was confident the Dundee team would take good care of my clients.

Brewin's most recent acquisition was the £28 million purchase of Duncan Lowry Asset Management (DLAM) in May 2017.

Before that the 250 year old national adviser had last dipped its toe into the market in 2011. Brewin had in recent years focused on a policy of rationalising its business, which led to it spinning off several units to rivals, including Stocktrade to Alliance Trust.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Wealth Manager on Twitter