Lindsays dispenses with investment arm

Edinburgh-based firm Lindsays has disposed of its investment management arm to focus purely on ­providing legal advice.

The firm has sold its investment management division, which is run by non-lawyers with a focus on giving clients wealth management advice, to
private bank Brown Shipley.

Investment managers Paul Embleton and Gail Craig will transfer to Brown Shipley in September.

Lindsays managing ­partner David Reith said: “In today’s highly regulated environment we believe that our clients’ interests will be better served by being part of a larger organisation, where investment ­management is a core area of its business and which has the resources available to invest in industry-leading investment research.”