Scott-Moncrieff loses wealth management arm

SCOTTISH firm Scott-Moncrieff’s wealth management arm has been acquired by Close Asset Management.

Citywire reports that two directors, an associate director and eight consultants will move to the financial services business. This follows Close’s acquisition of three independent financial advisory firms in the past year.

In a statement, Close said: “We can confirm that Close Asset Management has agreed to acquire Scott-Moncrieff Wealth Management, and look forward to working with their team. This acquisition is in line with Close Brothers’ strategy of building scale in its private clients business.”

Scott-Moncrieff declined to comment.

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