Tilney Smith & Williamson has bought north east advice firm Explore Wealth Management for an undisclosed sum.
The deal will see five staff from Explore Wealth Management, along with the firm’s owner Stephen Sumner, join Tilney Smith & Williamson’s office in Newcastle.
The office is headed-up by managing partner David Smith, who said: “I am delighted to welcome the team from Explore Wealth Management to our growing Newcastle office.
"Stephen and the five experienced staff who are joining Tilney Smith & Williamson have developed a great reputation providing financial planning services to clients in the north east and I am very pleased we are now going to be working together.
“This move demonstrates our commitment to invest in the north east and builds on the addition earlier in the year of a dedicated investment management team for our Newcastle office.”
Explore Wealth Management joined Tilney Smith & Williamson as part of the group’s succession programme which gives financial advisers approaching retirement the opportunity to provide a new long-term home for their advisers and clients.
The advice firm, which is based in Cramlington in Northumberland, provides retirement planning, pensions advice and investment management services.
It specialises in working with current and former business owners, professionals and senior managers who are either approaching, or are already in, retirement.
Sumner said: “Tilney Smith & Williamson’s culture, values, professionalism and service standards are very much aligned with our own which made it a very easy decision for us to join.
“We feel strongly that our team and also our clients’ financial planning needs will continue to be well looked after for many years to come.”
Earlier this year, Tilney added an investment management team in Newcastle, headed up by investment manager Matthew Burgess, which will allow clients in the north east to have their investment portfolios managed by a locally based team.
Last month, the group said it had partnered with The Royal Institution of Chartered Surveyors to give members of the professional body access to financial planning, investment management and tax planning.
As part of the partnership, Tilney Smith & Williamson will provide a series of national and regional financial webinars for the professional body’s members.
It will also attend face-to-face events across the UK and support Rics with investment insights as it sets out the future for the built and natural environment.
sonia.rach@ft.com
What do you think about the issues raised by this story? Email us on FTAletters@ft.com to let us know
