The acquisition is subject to regulatory approval.

The deal is the latest from Boston as it continues to pursue its ambitions for long-term growth in the fiduciary market.

It is the second major acquisition since chief executive Katherine Ellis and chief operating officeer Alex McNee led a management buyout of Boston in October 2019. 

 In 2020 Boston acquired IQE Ltd with all of IQE’s services and clients transfering to Boston’s headquarters.

Katherine Ellis, chief executive of Boston, said: “Fedelta has an excellent record in delivering quality financial services, built on the same values and culture that we cherish at Boston.”

Fedelta Trust director Steven Quirk said: “Fedelta has always endeavoured to offer a customer-focused approach with the highest standards of personal service, integrity and expertise.

“During our discussions with Katherine and Alex, it became apparent at an early stage that they, and the wider team at Boston, have a like-minded approach.

“This was important to us and will provide our clients and staff with a strong foundation for the future.” 

The acquisition was supported by Horizon Capital, new financing partner for Boston. 

Adam Lewis, partner at Horizon Capital, said, “This is the first of several planned strategic acquisitions that will continue to build on Boston’s client-focused approach and enhance the client offering going forwards.”

Boston Multi Family Office was founded in 2002 as a single family office and was held privately until 2019. The company provides boutique administration services from offices in the Isle of Man and Malta.