Company founder Margaret Mearns has sold her Edinburgh-based chartered financial planning and employee benefits consultancy Mearns & Co to a management buyout team that will keep it in family ownership.  

Ms Mearns’ daughter Catherine Bell is managing director, while her son Malcolm Steel is responsible for client strategy. Graeme Brown (client services) and Graeme McInally (financial planning) are also involved in the deal.

The business, founded in 1994, employs 25 staff at its headquarters in Commercial Street.  

Ms Bell said: “There is an ever-reducing number of independent financial advisory firms in the market due to consolidation in our sector and Mearns & Company prides itself on being privately owned and well placed to provide a consistent and personal service to our clients.   

“Under our leadership we commit to driving innovation and nurturing a positive people culture, which both our clients and our team value.” 

The buyout team was supported by accountants AH & Co and solicitors Herrington Carmichael.