Acquisition by Glasgow wealth manager

09 Dec 2019

Gilliland Neilson Brown, Chartered Financial Planners and Wealth Managers, based in the IFSD has acquired the client portfolio of Bishopbriggs-based Prudent Financial Management, taking their funds under management from £80m to £100m.

Richard Gilliland, Chairman, Gilliland Neilson Brown said: "The acquisition is part of Gilliland Neilson Brown's assertive growth strategy, with further acquisitions being actively sought, to reach a target of funds under management of £250m.

"Gilliland Neilson Brown will take on a member of Prudent Financial Management's team, with their three directors - all of whom had originally worked for Prudential - retiring."

"Prudent have traded for around 20 years and the retirement of its directors offered a rare opportunity within the market for the acquisition of clients of an extremely well-run, successful business."

"This acquisition, against the current economic backdrop, represents a positive news story of a firm with an 18 year heritage thriving and looking to expand throughout Scotland."

Established in 2001, the team at Gilliland Neilson Brown Ltd has many years' experience providing practical financial planning advice to people, families and businesses in Glasgow and the surrounding area.

Image shows Richard Gilliland (left) and Ailsa Brown of Gilliland Neilson Brown with Stephen Brady of Prudent Financial Management.