International wealth manager, Financial Planner and professional services firm Azets Wealth Management has acquired Newcastle-based Chartered Financial Planner Laurus Associates for an undisclosed amount.

Laurus offers personal and corporate advice on investments, pensions and life assurance.

It was established in 2002 by Karen Barwick and Colin Dawson and became one of the first in the North East to achieve Chartered Financial Planner status in January 2009.

It has a particular interest and expertise in trust planning, auto-enrolment, investment portfolios, pension property purchase and employee benefits advice.

City of London-based Azets operates across the UK from hubs in the north east and Scotland. It said the deal strengthens its team and specialist expertise from its UK hubs in the North East and Scotland.

The deal follows Azets’ acquisition of wealth management and chartered accountancy firm Milne Craig in Glasgow last August.

Karen Barwick, director at Laurus Associates, said: “Azets Wealth Management shares our commitment to building long-lasting partnerships with clients, built on trust and quality advice.”

Mark Parkinson, chief executive at Azets Wealth Management, said: “Laurus Associates is a firm I have admired for a number of years, as I’m aware many of their clients are referred by the professional services community in Newcastle.

“There is a clear cultural alignment between Azets Wealth Management and Laurus Associates, and our team will benefit significantly from their experience and specialised approach.”

Contracts have been exchanged and the deal is expected to complete by the end of January, Azets said.

Azets is one of the UK's largest professional services firms with 3,800 staff in the UK serving 100,000 clients from 72 offices. It also operates in six countries and has 190 offices across Europe and 9,000 local experts.

In the UK Azets provides wealth management and Financial Planning as well as accountancy and other professional services.