Legal firm Morton Fraser has unveiled twin deals that will see it boost its private client offering while pulling out of directly providing estate agency work.
The firm, which employs more than 270 people across its offices in Edinburgh and Glasgow, is taking on Addleshaw Goddard’s ten-strong Scottish private client team as part of a move to focus its private client offering on tax and succession planning for individuals, families, business owners and executives.
Meanwhile, Morton Fraser has agreed terms to take a minority stake in Coulters and in doing so transfer its eight-strong residential property team to the Edinburgh-based estate agency.
The move means that Morton Fraser will no longer directly provide estate agency work.
Chief executive Chris Harte said the firm would now possess one of Scotland’s largest private client offerings with a team of more than 60 dedicated specialists.
He said: “Being an independent firm means we have the freedom to determine what investments will best serve our clients and our people. These opportunities mean we will bring in yet more fantastic talent to our private client team while at the same time allowing our residential property team a great opportunity to be part of a leading estate agency brand.”
The Addleshaw Goddard private client team is led by Gregor Mitchell, who will join Morton as a partner alongside Euan Fleming and a team of eight consultants, solicitors, paralegals and assistants.
Malcolm McPherson, senior partner, Scotland, for Addleshaw Goddard, said: “The team leave with our thanks and best wishes, as they join a firm which is a better fit for their experience, expertise and client portfolio, while AG’s core market-leading private capital team, based in Leeds and Manchester, continues to be a key part of our business focusing on ultra- and high-net-worth individuals, corporate entities, family offices, trust companies and charities.
“We will be communicating directly with clients over the next few weeks on the details of the transfer.”
Ben Di Rollo, head of business development and marketing at Coulters, added: “The combination of the Coulters’ brand and success story with the great team from Morton Fraser will undoubtedly have a positive impact on a sector which is traditional in nature.
“Clients are demanding more in terms of service and innovation and the newly expanded team will be perfectly positioned to meet that need.”