The two have been appointed as directors in key strategic and development roles.

Melville Independent manages over £700 million of assets for its clients throughout offices across the UK, The Scotsman reports.

Matthew Irvine joins the board with key responsibilities in the development of the asset management proposition. Kristofor Banks joins the board to enhance the firm’s strategic and acquisition structure.

Mr Irvine said: “I am hugely proud to be joining the management team at Melville Independent. I look forward to the challenges involved and developing the business on a number of different fronts.

“It is an extremely exciting time for the financial advice sector, and we are particularly keen on developing the next generation of advisers to ensure the future of the business and our clients.”

Mr Banks added: “Melville Independent is a great business with an excellent and experienced team.”

The two new directors have each secured an undisclosed shareholding within the business as part of the deal.

Raymond Milne, director of Melville Independent, commented: “We believe the changes in our executive team will ensure the future of the business and enable us to continue to deliver excellence to both our current and new clients.”