Stockport IFA Prest acquires rival

Stockport-based IFA AJ Smith and Co has been acquired by rival neighbour Prest Financial Services for an undisclosed sum.

Prest managing director Graham Prest says AJ Smith represented a "very good fit" with the business, which was established in 1961.

"We identified there was a great deal of synergy between AJ Smith and Co and our own business, along with an opportunity to spread the range of our existing client base, so it presented a very good fit," he says.

"The deal is part of our ongoing strategy to develop and grow the company through the acquisition of high quality businesses."