The financial management arm of Scottish law firm Gilson Gray has acquired Edinburgh-based bespoke practice Sarah Hughes Wealth Management for an undisclosed amount.

The deal will take Gilson Gray’s assets under management to nearly £500m.

GGFM is a St James’s Place partner and the deal is its first in 2023. It forms part of a continued expansion programme of strategic acquisitions and organic growth over the next few years.

At the end of last year, Gilson Gray bought North Berwick-based Scott Wallace Financial Planning.

Steve Herkes, managing director of GGFM, said: “I have known Sarah for several years, she has a reputation as a high-quality Financial Planner with a huge focus on tailoring services to her client’s needs.”

He said she will be a “great addition”, mentoring more junior colleagues and helping to develop the company’s private client proposition.

“At the same time, her clients will benefit from access to a wider range of financial, property, and legal services, so the acquisition is the perfect fit for both businesses.”

He said bringing Sarah Hughes Wealth Management on board is the first in a series of deals the company hopes to conclude in 2023.

Sarah Hughes Wealth Management has been a senior partner practice of the St James’s Place network since 1997, specialising in providing advice to high-net-worth individuals with complex financial needs across the UK.

Sarah Hughes is a Chartered Financial Planner with nearly three decades of experience.

She said: “Rather than focusing on the size of the business, I have always wanted to maintain the level of service my clients have come to expect.

“Joining the GGFM team will provide us with the regulatory and administrative support we need to remain focussed on our client’s needs while providing added value through the wider Gilson Gray offering.”

GGFM offers specialist financial advice to private and corporate clients around the UK. It is a senior partner practice of wealth manager St James’s Place Wealth Management. 

Gilson Gray was established in 2014 and provides advice on law, property and finance. The firm has more than 160 staff in four offices in North Berwick, Edinburgh, Dundee and Glasgow.