Ashcourt Rowan, the acquisitive wealth adviser, has agreed to buy boutique operation UK Wealth Management from private equity firm Duke Street for up to £14.25 million.

The deal takes Ashcourt's assets to £5 billion. Its chief executive Jonathan Polin said he wanted to double assets to £10 billion within three years through more deals: "We want to achieve scale because we believe this is the way to offer clients the best service."