Clifton Asset Management acquires financial company

Clifton Asset Management (Clifton today (September 12) completed the acquisition of Strout-based financial advisory firm Noble James Associates.

This follows the acquisition of wealth management firm Burnett & Reid Wealth Management in July. This is part of Clifton’s plan to accelerate its “buy and build” acquisition strategy.

Noble James Associated was established in 1999. It employs a team of three advisors, each with over 20 years of industry experience.

With this acquisition, Clifton adds £130m to its assets under management (AUM), bringing its total AUM to £970m.

In July, Clifton announced that it had received a “significant” first round of funding from independent asset manager Boost & Co to accelerate its “buy and build” acquisition strategy.

It aims to have closed four to five transactions by the end of 2022 or the beginning of 2023.

Clifton previously acquired Plan for Life in 2019 and Leonard Gold Financial Management in August 2021.

Anthony Carty, Clifton Group Financial Planning Director, said: “We are particularly pleased to be working with the highly experienced team at Noble James. Their customer focus and commitment to delivering great results reflects our philosophy at Clifton.

“This latest acquisition also underscores that our planned acquisition strategy is on track and delivering value to customers as expected.”

This recent deal is part of that strategy where smaller consulting firms can access services and products under the Clifton umbrella.

This can be done either by joining via Acquisition or Named Representative status.

Noble James director of personal finance, Alistair Bidmead, said: “We were particularly attracted to the resources Clifton has to offer.

“The infrastructure and staff will allow our advisory team to do what they do best rather than trying to juggle multiple back-office tasks as they currently do.

“It can only be a win-win for our clients and our team of advisors.”

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