Bristol-based Clifton Asset Management has acquired Gloucestershire-based financial adviser Noble James Associates for an undisclosed sum.

The deal follows its July acquisition of Aberdeen-based Burnett & Reid Wealth Management Limited as part of its ‘buy and build’ strategy.

IFA firm Noble James Associates was established in 1999 and has a team of three advisers, each with over 20 years of industry experience. 

Clifton says the deal for Noble James will add £130m in assets under management and take Clifton’s total assets under management to £970m.

Clifton has acquired a number of firms in recent years including Plan for Life in 2019. In August 2021, it acquired Leonard Gold Financial Management.

In July, Clifton reported that it had received “significant first round funding” from independent asset manager, Boost & Co to “accelerate” its buy and build acquisition strategy. The aim of the strategy is to buy smaller advisory firms or convert them to appointed rep status to help them grow faster under the Clifton umbrella. 

Anthony Carty, group Financial Planning director at Clifton, said: “We are particularly thrilled to be working with the highly experienced team at Noble James. Their client focus and commitment to great outcomes mirrors our philosophy at Clifton. This latest acquisition also highlights that our planned acquisition strategy is on course and delivering value to clients as planned.”

James Brown, personal finance director of Noble James Associates, said: “During the process of deciding to sell the business we had talked to several other acquirers but in Clifton Asset Management we found a firm with the same ethics and ethos - where just doing the right job is so important.

"It’s very hard to find the right people when it comes to making the final decision to sell, but we’re very well matched with Clifton and in a strong position for future growth through continuing to provide an excellent service to our clients.”