Tweed Wealth Management has acquired Edinburgh-based The James Boyd Practice for an undisclosed sum in its sixth acquisition in seven years.

The James Boyd Practice was established in Edinburgh by financial consultant James Boyd, and has operated as part of St James’s Place for the past 17 years.

Mr Boyd brings clients from Edinburgh, Aberdeen and London and takes Tweed’s assets under management close to £1bn.

He plans to retire and chose to sell to Tweed as he has known the team for a number of years.

He said: “I’ve had the pleasure of knowing Chris and Alison Tweed for many years and have every confidence that they will show the James Boyd client portfolio every level of care, as my team and I have.”

The acquisition is not the first SJP partner firm to be targeted by Tweed.

Last year Tweed acquired Glasgow-based Capital Wealth Consultants which was formerly an SJP partner firm.

The acquisition is the latest in a series for the Scottish wealth manager with other recent acquisitions including Inverness-based John Home Wealth Management, Melville Wealth Management, Stevenson-Hamilton Wealth Management, Jamieson Wealth Management, and the wealth management arm of Macleod & MacCallum.

Tweed now has five offices nationwide

Chris Tweed, Chartered Financial Planner, CEO and co-founder of Tweed Wealth Management, said: “James has built an exceptional business based on trust and client-focused service and values that align perfectly with our own.

“This acquisition strengthens our commitment to having a presence in every region of Scotland while maintaining the personalised approach our clients value.

“Our aim for Tweed continues to be creating a forward-thinking financial advice practice that supports families and business clients while providing opportunities for talented professionals to achieve great things.”

Tweed is one of the largest privately-owned and funded wealth management firms in Scotland. It was founded by Chris Tweed and his wife Alison in 2014.