One of the UK’s largest and fastest growing independent financial advice firms acquires Portfolio Financial Consultancy

25th July 2023

As reported in FT Adviser, professional and international adviser, Ascot Lloyd – owned by Nordic Capital, a leading European private equity investor, successfully acquired the entire issued share capital of Portfolio Financial Consultancy (PFC) following regulatory approval from the Financial Conduct Authority (FCA).

Led by both Corporate Partner Martyn Davies and Financial Services Regulatory Partner Stuart Brothers, the Cardiff based team successfully advised the sole shareholder of PFC from the initial negotiation of the non-binding indicative offer letter through to the formal share sale agreement and associated documentation. This also included providing advice on navigating the regulatory landscape and ensuring the correct notifications were made to the FCA.

Founded as an IFA in 1999, the company employs 19 staff, all of whom will make the move over to Ascot Lloyd. However, the firm will continue to have a presence in Swansea, staying in their existing offices.

On behalf of the team who completed the sale, Corporate Partner Martyn Davies said: “It was a pleasure to work with both Chris (PFC) and Gordon (Ascot Lloyd) and their respective teams to ensure a successful and timely outcome.

“Having Stuart Brothers to support and advise on the regulatory side was again invaluable. This transaction and others recently completed further evidences the expertise the firm has when delivering transactions involving parties subject to FCA regulation.”

Chris Roche, the sole shareholder of PFC, said “My thanks to Martyn and Stuart for their exemplary service from start to finish, Stuart’s knowledge of financial services coupled with Martyn’s transactional expertise made the process seamless. I would happily recommend them to anyone looking at a possible sale of their regulatory business.”