Discretionary fund manager (DFM) Brewin Dolphin has bought Basingstoke-based advice firm Aylwin Limited as part of plans to expand its operation in the South East.
Aylwin's director David de Krester will become head of Brewin Dolphin's Winchester office following the acquisition. The DFM moved its Bournemouth team to Winchester earlier this year.
Brewin Dolphin has not disclosed how much it paid to buy Aylwin.
'I am pleased to tell you that my co-director Derek Langton and I will continue to look after your financial planning needs from Brewin Dolphin’s new offices in Winchester,' de Kresyer wrote in a letter to clients explaining the deal. 'In future, you will benefit from the broader support and resources of Brewin Dolphin including the insight of their in-house research team.'
The acquisition continues a trend of DFMs and wealth managers expanding their financial advice arms this year. Brewin Dolphin's advice business recorded an income of £24 million in the financial year ending 30 September 2018.
Brewin Dolphin's regional director for the South of Engalnd Jonathan Tweedie said de Krester had a 'proven track record' of leading a successful financial advice business.
'We’re seeing an increasing need for trusted and expert advisers to take the strain from those who need help with their finances in these uncertain times. We serve the financial needs of our local clients, with the strength and influence of the Brewin Dolphin name behind us,' he added.