Brooks Macdonald senior director Stewart Sanderson has been appointed chief executive of Irwin Mitchell’s Financial Planning business IM Asset Management Limited.

He will replace, subject to regulatory approvals, Richard Pott who has retired after two decades at the firm.

Mr Sanderson has joined IM Asset Management from Brooks Macdonald where he was a senior director who led the UK private client proposition and advised key clients on their broad wealth management needs.

He has more than 25 years’ experience of UK wealth management gained working at institutions such as Seven Investment Management LLP, Lloyds Private Banking and Coutts & Co. He has also developed and led other private client businesses across London, Edinburgh, and Jersey.

Mr Sanderson holds several industry qualifications, is a Fellow of the Chartered Institute for Securities & Investment (Chartered FCSI) and is a recommended wealth manager in the Spears 500 guide.

IM Asset Management has around £1.2bn assets under management with clients including those who have received damages following serious injuries as well as high net worth clients from sporting and business backgrounds.

Richard Potts led IM for 20 years and was instrumental in growing the business from a small start-up business to around 75 workers.

Simon Hynes, Chair of IMAML, said: “We want to thank Richard for his outstanding service to IM Asset Management. His legacy is in building the strong business we have today.

"Equally, Stewart has tremendous experience in growing private client businesses and his expertise will be invaluable as we seek to grow our share of the broader wealth management market."

Mr Sanderson said: “IM Asset Management has expanded in recent years through M&A activity and there is a great opportunity to bring all of our expertise together and grow the business significantly.” 

In January IM Asset Management Limited appointed Lynzi Harrison as a new non-executive director. Ms Harrison has worked in leadership/board-level roles within large corporates (Old Mutual) and mutual/friendlies (LV=) for more than 25 years. She also possesses extensive knowledge gained from serving in multiple NED positions across financial and professional services organisations. 

Irwin Mitchell is a legal and financial services provider that has been busy snapping up Financial Planning firms in recent times.

In April last year it acquired Leeds-based wealth manager Andrews Gwynne LLP for an undisclosed amount. The deal increases Irwin Mitchell's assets under management to £1.2bn.

In May 2022 the firm acquired Cheshire-based Chartered Financial Planning firm TWP Wealth for an undisclosed sum. The deal brought in £100m in assets under management.

The law firm, one of the largest in the UK, launched its wealth management service in 2000 to provide Financial Planning and investment management to personal injury clients receiving large settlements.

From 2017 Irwin Mitchell Asset Management widened its remit from focusing mainly on personal injury clients to offer wealth management to other wealthy individuals, investors and external clients such as business owners and charities.