Scotland-headquartered professional services firm AAB has invested in its second acquisition of the year. The firm’s deal for Magus Wealth will provide the consultancy with a platform to grow its financial planning wing across London and the south of England.
Aberdeen headquartered AAB has been looking to expand its offering consistently in recent years. 2018 saw the firm launch a dedicated consulting firm, in a bid to boost revenue growth. Amid the digital-disruption wrought by the pandemic, the firm enjoyed a rise in demand for its tech-enabled services for the SME and enterprise markets – and attracted new investment from August Equity in 2021.
In the years since, AAB has trebled in size and now employs more than 1,000 people. The rapid growth journey has now included 10 deals, and is set to continue as part of delivering its ambitious growth strategy for 2030. In the last year, it has used the backing of August Equity to supercharge those efforts.
At the turn of 2025, AAB acquired Ormsby & Rhodes, strengthening its international presence and access to the European market and pushing AAB past the £100 million revenue mark. Now, AAB has followed that up by swooping for Magus Wealth.
Headquartered near Gatwick, with an office in the City of London, Magus Wealth marks AAB’s first wealth acquisition in the capital, this move signals a strategic focus on expanding their footprint, and growing their team in London and the south-east. Established in 1998, the firm brings over 25 years of experience and a robust client base on board, and enhances AAB’s capacity to offer specialised advice to clients.
Douglas Martin, chief commercial officer at AAB, commented via LinkedIn, “Hugely exciting times as we welcome Magus Wealth to AAB. This is a significant acquisition which provides us with a fantastic platform to grow our financial planning business in London and the South-East. Welcome to Dante Peters, Michael Aitken and the entire Magus Wealth team – we very much look forward to working with you going forward.”
This deal also boosts AAB’s assets under advice to £1.8 billion, an uplift of £650 million.
Michael Aitken, founder and chair at Magus Wealth, added, “Joining AAB Wealth marks an exciting new chapter for our team and our clients. From our very first conversations it was clear that our values and vision for providing the very highest quality, client-focused financial planning, were perfectly aligned. AAB Wealth’s reputation for excellence and innovation in financial planning makes this a perfect fit. We are delighted to become part of a firm that prioritises both client success and professional growth for the team, and we look forward to continuing to expand the business across the UK.”