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Building society takes Thomson Shepherd stake

By Mark Dunne on July 08 2008

One of the UK’s largest building societies has continued to expand its financial advice services with the acquisition of a majority stake in a Scottish-based firm.

Skipton Building Society has acquired a stake in Thomson Shepherd, an independent financial adviser, which also trades as Coggans Wood, after it purchased 75 per cent of its parent Symington Glass.

David Cutter, Skipton’s corporate development director, said: “One of Skipton’s key areas of focus is financial advice and we’ve made no secret of our desire to acquire companies with quality staff, reputations and business models.”

The deal was completed some two weeks after its acquisition of Torquil Clark and brings the number of financial advice businesses in the group to five.

Scott-Moncrieff advised the vendor.

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