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.”