AC Wealth was formally separated from Aberdein Considine LLP last year, becoming an independent company while maintaining close links with the Aberdeen-headquartered legal and property group. At the time, Aberdein Considine retained a majority interest in the business and said the move would support future growth.
Read more:
The acquisition will bring approximately £800 million of assets under management and advice into Shackleton, alongside 40 employees, including 14 FCA-authorised financial advisers. Shackleton said the deal will increase its total assets under advice in Scotland to more than £1.3 billion.
Following completion, the company will operate from offices in Aberdeen, Glasgow and Edinburgh, while maintaining local representation in Perth and Stirling.
The deal represents the latest stage in an expansion strategy pursued by AC Wealth over recent years. In 2024, the business strengthened its presence in the central belt with the creation of an Edinburgh division and the appointment of Ross Leckridge, previously of Johnston Carmichael Wealth, as a chartered financial planner. At the time, chief executive Jennifer Paice said the firm was ready to bring its financial-planning services to more clients across Scotland.
Read more:
Ms Paice said joining Shackleton would provide additional resources while preserving continuity for clients and staff.
“The journey to become part of Shackleton is an extremely positive development for AC Wealth clients and colleagues alike,” she said. “Our approach and values are closely aligned, and this development will provide not only continuity of relationships and service for our clients, but also additional support and resources of a much larger Chartered, client-focused firm.”
For Aberdein Considine, the sale reflects a growing focus on its legal services operations.
“This deal is aligned with our strategic decision to invest further and grow our core offering as one of the UK’s leading full-service legal practices,” managing partner Jacqueline Law said.
Read more:
The agreement also highlights continuing consolidation across the UK financial-advice sector. Shackleton has expanded rapidly through acquisitions and recently completed the purchase of Argentis Group, a deal that created a business with around £17.5bn of assets under advice and management.
Chief executive Paul Feeney described the AC Wealth acquisition as “a transformative deal for Shackleton in Scotland”, adding that the enlarged business would seek to combine local client relationships with the resources and investment capabilities of a larger national organisation.
The firm said existing AC Wealth clients would continue to be served by the same advisers and teams following completion of the transaction.
