Founded in 2003, HKA provides wealth management services and has more than £250m of assets under advice.
All staff will remain in the business. Seven financial planners will move across to strengthen the G+E Wealth Management team, bringing the total number of financial planners to 20.
HKA’s Director David Booth has grown the business since it was founded and will remain with the firm, joining the G+E Wealth Management Board.
The acquisition was supported by the alternative finance provider to mid-sized SMEs, ThinCats, led by Ben Kimball and the Garbutt + Elliot Corporate Finance team led by Tony Farmer.
Rob Simpson, Managing Director, G+E Wealth Management said: “We are delighted to complete the acquisition of HKA which makes us one of the largest privately owned advice firms in the region.
"HKA is an impressive firm with an excellent reputation and I’m looking forward to welcoming David and his team to the group.”
David Booth, HKA Director added: “This is an incredibly positive and exciting step for everyone associated with HKA, especially our clients and employees.
"G+E Wealth Management share our core values and client centred ethos, and we are thrilled to become part of the Garbutt + Elliott group. Our clients will continue to experience a seamless and bespoke service from our financial planners.
"Combining our strengths will allow both our clients and employees to benefit from the considerable additional resources and enhanced support available as part of the Garbutt + Elliott group. We are looking forward to being part of their continued growth journey to be the best regional financial services team.”
Russell Turner, Managing Partner at Garbutt + Elliott said: “We are delighted to welcome David and his team to Garbutt + Elliott. David has successfully grown his business from a standing start and there are compelling synergies between both businesses in terms of our values, cultural fit and genuinely caring for clients.
"Having the HKA team on board is an important strategic step for Garbutt + Elliott, driving growth and ensuring our excellent reputation goes from strength to strength. I’m looking forward to working with David and the exciting opportunities we can create in the future”.
The law firm Clarion acted for Thincats.