Founded in 1994 by Margaret Mearns, the purchase was undertaken by company directors, managing director Catherine Bell, client services director Graeme Brown, financial planning director Graeme McInally, and client strategy director Malcolm Steel.

The new ownership team currently has a combined 70 years working for Mearns & Company ensuring consistency for both staff and clients.

Mrs Bell said: “We are proud to take over the helm from our founder Margaret who has grown the company to a successful business built on strong values.

“There is an ever-reducing number of independent financial advisory firms in the market, due to consolidation in our sector, and Mearns & Company prides itself on being privately owned and well placed to provide a consistent and personal service to our clients.

“Under our leadership we commit to driving innovation and nurturing a positive people culture, which both our clients and our team value.”

Mearns & Company will retain its family-owned ethos, with Mrs Mearns’ daughter Mrs Bell and son Mr Steel an integral part of the new ownership team.

Mrs Bell added: “We have built a values-based business that provides our clients with trusted, expert service, while making a positive difference to their lives and their businesses. I am very excited for what the future holds.”

The buyout team was supported by accountants AH & Co Limited and solicitors Herrington Carmichael.