Lawrence Graham merger helps to beat FSA red tape

City firm Lawrence Graham is to merge its investment management business into Ashcourt Asset Management, currently owned by Maidstone law firm Brachers, Salisbury firm Wilsons and south-coast practice Blake Lapthorn.Ashcourt will have more than 250 million of funds under management.

It will be owned by the firms' equity partners together with chief executive John Morton, originally with Brachers.Lawrence Graham partner Tim Thornton Jones said the move got the firm over the regulatory burdens introduced last year by the launch of the Financial Services Authority, and also lowered its overheads.

Ashcourt is based in Maidstone.'And by combining with three other firms, we can provide a better service,' he added, saying that every client had moved over.