Midland finance firm RSM Bentley Jennison has expanded north of the border after acquiring Edinburgh-based Abercrombie Pension and Investment Planning (Scotland) for an undisclosed sum.
Abercrombie is the firm’s first investment in a financial management business that specialises in providing solutions to private clients.
Managing director Robin Hendry and director Douglas Young, together with their team of seven staff, including three advisers, will further expand the 120-strong practice.
This second acquisition in 2009 makes the firm the fourth-largest financial management division of an accounting-based firm, recently winning the leading industry award of Independent Financial Adviser of the Year 2009.
John White, partner and head of RSM Bentley Jennison Financial Management, said: “This acquisition demonstrates our continued commitment to strengthen our position in the financial services market.
“The Standard Life investment in the firm has given a great springboard for acquisitions.
“Following the successful integration of Midlands-based Ernest R Shaw (Financial Management) Limited earlier this year and two acquisitions in the last 18 months, this latest deal is another chapter, with more to follow.
“The recent acquisition reinforces our ability to serve both our corporate and private clients, utilising the great skill and talent gained, both in investment management and in the area of flexible benefits.
“We are delighted to welcome the Abercrombie team to the firm.”
Mr Hendry is set to become a director of RSM Bentley Jennison.
He said: “RSM Bentley Jennison Financial Management has a great reputation in the market place.
“This is exactly what attracted us to become part of a larger firm, giving our clients the added benefit of an expanded advisory team; thus further broadening our capability in delivering a quality and proactive service to our clients,” he added.