Financial planning and investment specialist, Scott James & Associates, has acquired another north-east business, bringing its total funds under management to more than £240million.
Scott James & Associates is an appointed representative of St. James’s Place (SJP) with offices in Aberdeen’s west end and Blairgowrie, Perthshire.
Following consistent levels of growth over several years, the company has purchased a fellow SJP partner practice from experienced financial planner, Kenneth Melville, who first joined SJP in 2002 and then established his own Aberdeen-based firm in 2008.
As part of the agreement, Kenneth and two members of staff, Beverly Findlay and Carolyn Martin, have joined the expanded company, which now employs 14 people, to help provide continuity for existing clients.
This acquisition – the third in the past six years – will allow Scott James & Associates to offer an enhanced range of investment, protection and tax planning services to clients across the north-east, ensuring they continue to receive expert, personalised advice.
Between 1 January and 31 December 2024, funds under management by Scott James & Associates increased by over 20% from £153.54million to £185.46million.
The acquisition, effective from January 2025, has lifted this figure by £51.6million while positive market sentiment has delivered an additional £6.33million since the turn of this year. This has resulted in funds under management rising to £243.39 million.
Scott James, director, said: “This acquisition is another exciting development as we continue to strengthen our capabilities and deliver effective financial planning and advice to an even wider audience. Kenneth’s business already shares great synergies, and I look forward to fully integrating our new colleagues with the rest of the team to see what we can achieve together.
“It is thanks to the incredible hard work and dedication of the people within our business that has allowed us to reach this latest milestone, which is testament to the quality of their work and the trust placed in them by our clients.”
Kenneth Melville commented: “I’m pleased to have joined a team which has built an excellent reputation within the local profession and have no doubts that clients will continue to receive the same high level of service they have come to expect while we go through this transition period. I’ve known Scott for many years and have great respect for him personally as well as his approach to the profession and commitment to providing the highest standards of financial advice.
“It’s been a great privilege to advise clients on financial matters over the past 20-plus years. Whether they have invested £10,000 or £1million, I’m extremely proud of the efforts of my team to make sure each client feels valued and well looked after.”
Scott Parnell, deputy business partner lead for Scotland and Northern Ireland at SJP, said: “We’re delighted that Kenneth and Scott have decided to align their businesses within Scott James & Associates. Their focus on delivering first-rate client service is very similar, so this will ensure Kenneth’s clients see a continuation of the very highest advice and care that they’ve enjoyed from Kenneth since he started his business in 2008.
“It helps create continuity for clients and will allow Scott the benefit of Kenneth’s experience before he transitions to a well-earned retirement in time. The new business will be one of our largest practices by client number in Scotland and I wish them all the very best for what we all expect to be a prosperous and exciting future together.”
Organic growth complemented by strategic acquisitions have helped Scott James & Associates grow from a three-person outfit in 2019 to a 14-strong team today, including five financial advisers and one mortgage adviser now supporting more than 1,500 clients.
This latest acquisition follows the opening of an office in Blairgowrie, Perthshire in 2019 and the purchase of another partner practice in Cruden Bay, Aberdeenshire in 2022.
The business is considering additional hires or right-fit acquisitions in future. In addition, administrator Calum Bruce is currently going through the SJP Academy and, under the mentorship of Scott James, expects to become a qualified adviser by the summer.
Scott James & Associates, which is celebrating its 10th anniversary in 2025, continues to experience significant demand for sound financial advice, particularly around retirement, investment, estate and tax planning, from families and individuals across Aberdeen, Aberdeenshire, Angus, and Perthshire.
