Private equity-backed, Brighton-based Chartered Financial Planning firm Skerritts has acquired Hampshire-based financial adviser PS Financial Advisers as it continues a strategy of acquisitions.

Skerritts says the latest deal is part of a move to increase its footprint in the South East.

In March last year private equity firm Sovereign Capital Partners invested £55m in Skerritts to expand the firm through organic growth and acquisitions.

In April this year, Skerritts acquired Kent-based Geoffrey Craig Limited, East Sussex-based Saffron Wealth Management and Chartered firm Bradbury Hamilton. The three firms added a total of £480m in assets under management.

So far Skerritts had made nine acquisitions in total and plans further deals. 

Richard Skerritt, CEO of Skerritts, said: “As part of our strategic plans to increase our presence in the South East, adding a high-quality firm such as PS to the group enables us to expand into Hampshire and adds a great team of people, led by Geoff, that we very much look forward to working with.”

Geoff Reed, director of PS Financial Advisers, said: “As the financial services market continues to evolve, we made the decision that we needed to be part of a larger group, with the extra benefits and resources that this brings. After a lot of research, we are very confident that Skerritts is the stand-out partner for us and will help us to invest in and grow the office, whilst continuing to offer our clients the high level of service they are used to.”

The purchase of PS Financial Advisers Ltd adds £60 million of AUM to Skerritts and brings the number of deals that the Skerritts Group has completed since the Sovereign investment to seven.

Skerrits’ clients include local people, directors, businesses, charities and trustees in Brighton and the surrounding area. It has been in business for over 30 years and is a Chartered Financial Planning firm and a Discretionary Investment Manager.