Swiss asset management firm Helvetia Wealth has acquired Scottish independent financial adviser Dunedin Independent for £4m.

Formed in 1994, Edinburgh-based Dunedin Independent specializes in providing bespoke investment management to wealthy individuals and has more than £350m of funds under management.

Helvetia CEO Kamil Stender said that with offices also in Liechtenstein, Geneva, London, Hamburg, Mauritius, Dublin and Glasgow, Helvetia Wealth now has an increased asset base of CHF1.5bn, with the UK earmarked as one of the group’s key markets.

“We are now able to boast over 100 finance professionals based in our three UK offices in London, Glasgow and Edinburgh. We anticipate that our proposition of international fund management centered in Switzerland with access to Swiss wealth management services will prove attractive to Scottish HNWI investors and that the new UK business will grow substantially in spite of uncertain market conditions at present,” Stender said.

Dunedin Independent MD Yuill Irvine said that the enlarged group features two prominent IFA firms in Scotland, Dunedin Independent and City Gate Money Managers. In addition, Helvetia owns a controlling stake in London-based TAM Asset Management with a London Stock Exchange brokerage license allowing Dunedin to execute its own trades faster at better margins.