Scottish IFA takes assets to £250m with acquisition

McHardy Financial recently announced the acquisition of the Galashiels-based Fraser James Partnership.

Fraser James has around £45 million worth of assets under advice and the acquisition will take the total amount of assets at McHardy to over £250 million upon completion of the deal.

Fraser James was set up in 2007 by Fraser Brydon and expanded to have offices in Galashiels in the Scottish Borders and Bathgatein West Lothian. The company currently have four members of staff, including Brydon, all of whom will join McHardy with immediate effect.

McHardy Financial already has offices in Aberdeen, Edinburgh, Perth, Kirkcaldy and Huntly and it will now be adding the old Fraser James office in Galashiels to its growing portfolio.

Ross Smith, the chief executive of McHardy, said: 'The Fraser James Partnership Ltd brand will gradually move across to McHardy Financial with the next few months.'

He added: 'In terms of the future, McHardy Financial has a relatively young management team so we are planning to continue controlled growth over the next few years.'

Both Andy Kerr, the managing director of McHardy, and Richard Fletcher, a director at the firm, had previously worked with Brydon in the past and are looking forward to linking up with him again after the takeover.

Smith said: 'We believe the business will add great value to McHardy Financial.'

Smith added that his firm would be open to the possibility of further acquisitions in the future if it fits with McHardy'sbusiness strategy.