Robson Macintosh, the Edinburgh-based financial planning service popularly known as RobMac, is understood to have been sold.

RobMac declined to comment when Daily Business approached the company for comment.

The firm, based in Manor Place in the west end, was established 30 years ago and now manages more than £150 million for clients around the world.

It is understood that Andrew Hannay, who joined RobMac in 1994 and became a director in 2006, may be retiring as part of the deal.