MORE jobs could be on the cards at a fast-growing financial planning firm after its sale to an investment group.

Ashcourt Holdings, based in Kings Hill, West Malling, has been bought by newly-formed Syndicate Asset Management (SAM) in a £13 million deal.

Ashcourt is listed on the Alternative Investment Market (AIM) and needed a substantial cash injection to fund further acquisitions.

Ashcourt emerged from a wealth management company founded for clients by Brachers, the Maidstone law firm.

It has since become one of the top 100 investment companies in the country with assets under management of around £600 million, a figure likely to rise to £1 billion in the next two or three years.

John Morton is staying on as chief executive, along with Lisa Felstead, chief operating officer. Mr Morton said that the jobs of all 90 staff were safe.

Indeed, further growth could mean taking on more staff at Kings Hill.

He said: "If anything, we’d be more likely to take staff on. It brings in the ammunition we need to carry on building the business. As we got bigger, it was important we made larger acquisitions.

"I genuinely think it’s a good deal for the shareholders, the staff and clients."

He added: "The acquisition by SAM will create the momentum to take Ashcourt Holdings to the next level and develop a truly national business which still retains its focus on performance and serving its customers."

Ashcourt chairman Geoffrey Dearing, former managing partner at Brachers, will step down.

Ashcourt has offices in London, Brighton, Winchester and St Peter Port, Guernsey, and provides investment and financial planning services to private individuals, trusts, charities and pension funds.