Murray Capital announced it has sold its stake in Scottish independent financial advisory firm Argyle Consulting.

Argyle Consulting was established in 1997 and has offices in Edinburgh’s Charlotte Square and St Vincent Street in Glasgow.

It is now predominantly owned by its management team and one of the firm’s founding partners, Stuart Dunbar, remains managing director and chair of its investment committee.

“Argyle Consulting has achieved considerable growth in the 20 years since Murray Capital invested in the business and is currently trusted with managing more than £1.5bn of investments on behalf of its clients,” said Murray Capital.

“Argyle is consistently ranked among the best financial advisory firms in the UK and was proud in March 2023 to be included again in the list of top 20 firms compiled annually by FT Adviser, the award-winning source of news and opinion for the financial intermediary market.

“It is the sixth consecutive year that Argyle has been listed among the top 100 firms, and the second consecutive year that Argyle has featured in the top 20.

“The list highlights the best financial advisory businesses working in the UK today and is based on independent data provided by Financial Clarity, from ISS Market Intelligence.”

David D Murray, Managing Director of Murray Capital, said: “It’s been a pleasure watching Argyle go from strength-to-strength over the past two decades.

“Our investment in 2003 gave the team the capital to develop the business in line with their vision, and really take it to the next level of growth, which there is no question they have achieved.

“I’m delighted to mark 20 years of working together with an amicable and profitable sale of our shares back to the company.

“Everyone at Murray Capital wishes the Argyle team all the very best for the next 20 years and more.”