Independent financial advisers Almary Green has added £30million worth of funds and 600 clients to its books after snapping up a firm in Lowestoft.

Norwich-based Almary Green has acquired Jones Financial Planning for an undisclosed sum in a move which will see two advisers and three support staff transfer across into the newly-combined venture. Five self-employed workers have left in the wake of the deal.

Carl Lamb, managing director of Almary Green, said: ‘We have always grown by acquisitions but with the advice market shrinking it has been harder to find a firm that shares our ethos. We looked at 12 firms over the last 18 months and discounted 11 of them.

“It’s about building our base. As the costs of running an advice firm increase, we wanted to put ourselves on a firmer footing.”

The business will be renamed and the Lowestoft office will be kept, Almary Green said.

The two advisers joining the enlarged firm include Steve Jones, the former managing director, and Simon Jones, a chartered financial planner.

Almary Green had previously merged with East Anglia-based Hopkinson Financial Consultancy close to six years ago, adding 400 clients and £25m of funds.

In October last year, it put the finishing touches to a major recruitment drive to combat the pressure on its workforce caused by new regulations.

The move resulted in 13 new people joining the firm, including two advisers and eleven back office staff.