McCrea Financial Services sold to One Four Nine
IFA and fund management group, One Four Nine Group, has acquired Glasgow-based McCrea Financial Services in what will be its largest acquisition to date.
The transaction is One Four Nine’s seventh since launch and expands its Scottish presence to three locations. It now has 31 advisers servicing 4,000 clients and £1.3 billion in assets.
McCrea Financial Services was set up in 1999 by Douglas McCrea, managing director, who said: “After almost 40 years in the industry I felt a huge responsibility to ensure the future of our staff and clients are in good hands for the many years ahead.”
The acquisition is a further step in One Four Nine’s plans to build a nationwide, integrated financial advice and fund management business.
Matthew Bugden, the firm’s chief executive, said: “This is the single largest purchase we have made and highlights the depth and scale achieved in just over a year.”