Davy Private Clients boosts assets with IFA acquisition

Deal is subject to FCA approval

Davy Private Clients UK has acquired Northern Ireland-based Pension & Financial Consultants (PFC).

PFC has about 4,000 clients and assets under management of £600m. The acquisition increases Davy Private Clients' assets under management to more than £1.25bn. The acquisition, which is subject to Financial Conduct Authority approval, is expected to complete early next year. PFC's directors and staff will move to Davy's new Northern Ireland headquarters in Donegall Square North, Belfast, following completion. Davy Private Clients is part of wealth management operation Davy Group. Davy Group chief executive Brian McKiernan said: "We have identified a growing need for high quality an...