Scottish wealth manager and Financial Planner Aberdein Considine has split off its wealth division into a separate business as part of plans to create one of Scotland’s largest Financial Planning firms.

The new limited company will trade as AC Wealth with long-standing Financial Planners Russell Anderson, Alan Davidson and Sam Goult becoming shareholders.

The FCA has formally approved AC Wealth as an independent business and the firm’s team of 13 Financial Planners and 23 staff will transfer over to AC Wealth.

The company said corporate and private clients will continue to receive a fully comprehensive Financial Planning service.     

Looking ahead, the firm said it plans to develop its Financial Planning service to reach more clients across Scotland.

Jen Paice, AC Wealth CEO, said: “For some time now our financial advice service has been transitioning from a traditional product-centric advice model, towards holistic Financial Planning, with a focus on clients’ broader financial goals and building lasting relationships with them."

Aberdein Considine was established in Aberdeen more than 40 years ago in 1981. It has offices across Scotland including three in each of Aberdeen, Edinburgh and Glasgow. It also has offices in Perth and Sterling and six in Aberdeenshire, in Banchory, Ellon, Inverurie, Peterhead, Stonehaven and Westhill.

It is one of Scotland's largest independent mortgage and protection brokers, as well as being an estate and leasing agent.

AC Wealth is now a separate legal entity to Aberdein Considine LLP, with both firms maintaining a close working relationship based within the same offices and Aberdein Considine LLP retaining a majority interest. Clients of the Financial Planning firm will continue to benefit from the legal, property and mortgage expertise of the law firm, it said.