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New funding boosts Ascot Lloyd’s growth ambitions

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UK independent financial adviser firm Ascot Lloyd is targeting growth following agreement on a new seven-figure funding package with Clydesdale Bank.

Ascot Lloyd provides a wide range of financial planning services for personal and corporate clients including protection products, investment products, pension planning and tax planning, pension administration and employee benefit services.
 
Led by chief executive officer Richard Dunbabin, the firm has grown steadily over the past decade, expanding via a series of strategic acquisitions.
 
It manages client assets of more than GBP2 billion and has over 175 staff based in 10 locations across the UK including offices in London, Manchester, Wokingham, Cardiff, Harrogate and Wolverhampton.
 
In July 2015, Ascot Lloyd acquired The PFP Group which further expanded its portfolio of wealth management services.
 
The seven-figure package will fund some of the deferred consideration on the firm’s historic acquisitions as well as supporting future acquisition activity. The deal was facilitated by Matthew Queripel, senior director in Clydesdale Bank’s specialist and acquisition finance team.
 
Mergers and acquisition specialist Stuart Dyer and new group chief financial officer Iain Balchin, who played a significant role in introducing the firm to the bank, joined Ascot Lloyd’s board earlier this year.
 
Balchin says: “Ascot Lloyd has grown rapidly over the last two years through significant acquisitions. As we continue our growth it is important we have a supportive bank and formal acquisition facility in place. This new facility from Clydesdale is transformational in terms of our future plans.”
 
Queripel says: “Under Richard’s leadership, Ascot Lloyd has grown both organically and through a series of strategic acquisitions.
 
“We look forward to supporting them at this highly significant phase in Ascot Lloyd’s development.”

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