Law firm Irwin Mitchell has expanded its wealth management team with the purchase of Cheshire based TWP Wealth.
TWP Wealth is a chartered financial planning firm based in Alderley Edge in Cheshire, and provides financial planning services to both private and corporate clients.
The deal will see TWP Wealth join Irwin Mitchell Asset Management and adds £100mn to its assets under management.
Irwin Mitchell chief executive Andrew Tucker said: “We have a successful business, focused on delivering life-time value for clients.
"Our clients trust us with their legal services at a time of change in their lives or their business - whether through a personal injury or divorce, or they may have sold a business or are looking to secure their families future through estate and tax planning.
"All of these events require financial advice and by bringing TWP Wealth on board, this gives us enhanced expertise for our clients, an increased client-base and further opportunities to cross-sell our legal services and meet their multiple needs.”
TWP’s current management team and staff will head Irwin Mitchell’s wealth management arm and join forces with the asset management which currently provides financial planning and investment management services.
The group said the acquisition of TWP will build the scale and capabilities of its wealth services.
Irwin Mitchell Asset Management chief executive Richard Potts, said: “We already have a growing wealth management business but the addition of the TWP Wealth team gives us the opportunity to attract more clients from outside of Irwin Mitchell who come directly for our wealth management and financial planning services.
“TWP Wealth shares our focus on building trust and loyalty amongst clients and we pride ourselves on our excellent client feedback scores. We’re delighted to have them on board and welcome them to Irwin Mitchell.”
IM Asset Management currently has £1bn in assets and it said TWP Wealth will help scale its financial planning capability, with the help of an expanded leadership team.
TWP Wealth managing director Mark Shotton, who will head up the wealth management service, said: “Irwin Mitchell is a really unique business with significant potential to build the brand beyond legal services and into financial planning and wealth management.
“Our values and approach to clients are very similar: treating them as people and working collaboratively to create tailored lifetime financial plans which work for them. We’re excited to begin working with the team.”
Irwin Mitchell also recently announced two new offices in Cardiff and Liverpool.
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