The latest acquisition by GGFM takes its total assets under management to nearly £500 million – a 40% increase in 12 months. At the end of last year, the wealth management firm bought North Berwick-based Scott Wallace Financial Planning.

Sarah Hughes Wealth Management has been a senior partner practice of the St James’s Place network since 1997, specialising in providing advice to high-net-worth individuals with complex financial needs.

Sarah Hughes, a chartered financial planner with nearly three decades of experience, and her team will join the GGFM fold, giving clients access to Gilson Gray’s integrated legal and property services.

The purchase of Sarah Hughes Wealth Management is GGFM’s first in 2023 and forms part of a continued expansion programme of strategic acquisitions and organic growth over the next few years. The deal is also Gilson Gray’s second of the week, following the announcement on Monday of the firm’s acquisition of The Law Practice in Aberdeen.

Steve Herkes, managing director of GGFM, said: “I have known Sarah for several years, she has a reputation as a high quality financial planner with a huge focus on tailoring services to her client’s needs.

“She will be a great addition to our team, mentoring more junior colleagues and helping to develop our private client proposition. At the same time, her clients will benefit from access to a wider range of financial, property, and legal services, so the acquisition is the perfect fit for both businesses.

“Bringing Sarah Hughes Wealth Management on board is the first in a series of deals we hope to conclude in 2023, which will increase our presence and offering across Scotland, building on a very active past couple of years.”

Ms Hughes added: “Rather than focusing on the size of the business, I have always wanted to maintain the level of service my clients have come to expect.

“Joining the GGFM team will provide us with the regulatory and administrative support we need to remain focussed on our client’s needs while providing added value through the wider Gilson Gray offering. I’m excited to begin a new phase and see what we can achieve as part of GGFM.”