Rapidly-expanding adviser and fund manager One Four Nine Group has acquired McCrea Financial Services, a long-established full-suite planning firm led by industry veteran Douglas McCrea.

The deal for the West of Scotland firm is its largest acquisition to date.

The group now has 31 advisers now servicing 4,000 clients with £1.3bn from seven locations as well its head office.

It has made seven acquisitions since being launched in 2021, including Nottingham-based firm HFL Financial Advisers in October and Scottish Financial Planner Russell Gibson Financial Management in August.

McCrea Financial Services was established in 1999 and the firm holds Chartered status.

It has won many industry awards over recent years and was also one of the first firms in the UK to be awarded Investor in People Platinum status.

Douglas McCrea, managing director, said: “After almost 40 years in the industry I felt a huge responsibility to ensure the future of our staff and clients are in good hands for the many years ahead.

“Having spoken to many companies over recent years One Four Nine were a stand-out and my staff and I are looking forward and excited for the next stage in our journey as of a nationwide, independent advisory firm.”

 Patrick Goulding, chief financial officer at One Four Nine said: “I have got to know Douglas well over recent months. He is an exceptional individual with a tremendous track record and a strong work ethic.”

“A high-calibre firm such as McCrea choosing to join our business is a strong endorsement of our strategy and we look forward to attracting similar high-quality firms.”

 Matthew Bugden, chief executive at One Four Nine, said he was pleased to “see our energetic momentum for growth continue at pace for 2023."

“We are now a sizeable business overseeing more than £1.3bn of client assets and expect to continue this progress over the next 12 months.”

One Four Nine is funded by private equity firm Copper Street Capital and has also entered a long-term financing arrangement with Cordet Capital Partners.

It is a relatively new entrant to the adviser M&A sector and was launched in 2021. One Four Nine Group is focused on tax-efficient investments, including EIS, and its growing financial advice arm.

It recently expanded its leadership team with the appointment of Barry Strathearn as chief compliance officer and Stuart Harding assuming the chief operating officer role. Furthering strengthening of its senior team is set to be announced in the coming weeks, it said.