23rd September 2019

Ascot Lloyd complete double acquisition

Ascot Lloyd, one of the UK’s largest independently-owned IFA firms, is pleased to announce the acquisition of Prest Financial Planning (‘Prest’) and QS Financial.

Prest Financial Planning is a Stockport-based IFA employing 6 financial planners and 26 employees in total. It brings over £3m of revenues and over £1m EBITDA to Ascot Lloyd, managing approximately £350 million in assets. Following completion, Prest will transition to the Ascot Lloyd brand.

QS Financial, based in Bromsgrove, brings over £65m of additional funds under management into the Group and complements Ascot Lloyd’s strength in the West Midlands region, further building on the recent acquisition of Newell Palmer.

Nigel Stockton, CEO of Ascot Lloyd, commented:

“Prest and QS Financial are two more high-quality acquisitions for Ascot Lloyd, continuing our track record of identifying strong businesses that represent a good fit with our culture and commitment to client excellence. This also continues our strategy of growing our regional footprint; Prest helps us establish a good presence in the North West, an attractive area in which we want to grow the Ascot Lloyd brand. Equally, QS Financial builds on our strength in the West Midlands.”

Graham Prest, CEO, Prest Financial Planning, added:

“This is an exciting opportunity for Prest Financial Planning as we become part of one of the largest and most highly respected independent advisory firms in the UK. Ascot Lloyd has a vastly experienced management team with similar business ethics and culture to ourselves. Like us, they are strongly committed to building and maintaining long-term client relationships and they have developed leading client service and investment propositions. This is a great development for both our clients and the Prest team, and we look forward to them joining the Ascot Lloyd family.”

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