Fast-growing Chartered Financial Adviser and wealth manager Skerritts has changed its name to Shackleton and acquired four financial advice businesses.

The deals boost the number of acquisitions to 15 since Sovereign Capital Partners’ £55m investment in the business in March 2021, bringing assets under advice and management to around £5.5bn.

The newly-renamed business will move its HQ from Hove to London and has been named after British explorer Sir Ernest Shackleton.

Paul Feeney, chief executive, said: “We believe that, for too long, trust in the financial advice profession has been eroded by the actions of certain established providers, whose business models were designed not for the benefit of their clients, but for themselves.

“We know that trust is earned; it can be given, and it can be taken away. This thought is imprinted on our minds, acting as the guiding light in our goal of seeking always to be the most trusted provider of financial advice in the country.”

The four new firms acquired by the business for undisclosed amounts today are:

• Scottish-based Save & Invest Group Limited, which manages £550m of AUM. It was launched in 1985 and has offices in Glasgow, Edinburgh and Perth.

• West Country-based Fleming Financial Limited, which manages £250m of AUM. The firm was part of Bishop Fleming LLP and has offices in Bristol and Plymouth.

• Sutton Coldfield-based Robson Lister Limited, which manages £350m of AUM and was established in 2001.

• Chesterfield-based Shorts Financial Services LLP, which manages £350m of AUM and was part of Shorts Accountants.

All four firms will be rebranded as Shackleton early in 2025.

Mr Feeney said: “The addition of these four exceptional firms demonstrates our commitment to delivering against this goal. We are just beginning. There are other regional and indeed multi-regional champion firms, right across the country, who are joining us in our great undertaking. We will shortly announce them too, subject to regulatory approval.”

The business established a nationwide presence as Skerritts and has been rapidly growing its scale through a buy and build strategy, supported by Sovereign Capital.

In September, it broadened its regional exposure to include the North of England and Scotland through the purchase of Ellis Bates.

In July Skerritts bought £540m AUM London-based Black Swan Financial Planning as well as £400m AUM Surrey Financial Planning firm KMG Independent Limited and its sister firm KMG Investment Management Limited.

Last December Skerritts bought £230m AUM Financial Planning firm Chadwick McLean, which is based in Chester. In September 2023 Skerritts Group acquired Kent-based Chartered Financial Planning firm Ambrose Fisher, adding £62m in AUM to the group.

In March Skerritts acquired Horsham-based Financial Planner Mercier Allen & Associates, adding £73m of AUM. In January 2023 it bought Kent-based Financial Planning firm Equinox Wealth Limited, which added another £62m of AUM. In 2022 Skerritts completed four acquisitions.