Financial Planning firm Ascot Lloyd is searching for a new CEO to replace Nigel Stockton who is planning to stand down after running the business for eight years.

Financial Planning firm Ascot Lloyd has bought Swansea-based IFA Portfolio Financial Consultancy which has £323m assets under management.

European private equity firm Nordic Capital has received regulatory approval to complete its acquisition of Financial Planning firm Ascot Lloyd from Oaktree Capital Management for an undisclosed sum.

Ascot Lloyd expects to complete a further eight acquisitions before the end of the year it has been revealed.