The Skipton Group buys Scottish IFA

The Skipton Building Society Group has acquired a 75% shareholding in Thomson Shepherd, the Scottish based IFA (which trades as Coggans Wood in Edinburgh).

The acquisition comes two weeks after Skipton acquired 85% of Torquil Clark and follows the Group’s strategy of strengthening its financial advice offering.

This is the fifth financial advice company within the Skipton Group, which includes Skipton Financial Services, Pearson Jones and Parnell Fisher Child.

Scottish-based Thomson Shepherd is a financial planning business which employs 35 staff – including 12 advisers – and has £400m of funds under advice. Operating from offices in Edinburgh, Perth, Aberdeen and Inverness its core areas of business are the giving of investment advice and pensions, trust and estate planning.

Although Thomson Shepherd will report to the Skipton’s main board, it will continue to be run as an independent company and will retain its brand.

Homebuyers with 100% mortgages are particularly vulnerable to a downturn in house prices. According to the credit reference agency Experian more than 75,000 households could be plunged into negative equity this year.