Legal and financial services provider Irwin Mitchell has acquired Cheshire-based Chartered Financial Planning firm TWP Wealth for an undisclosed sum.

TWP has £100m in assets under management, taking Irwin Mitchell to over £1bn in assets.

The Chartered Financial Planning firm is based in Alderley Edge (Cheshire) and provides Financial Planning to both private and corporate clients.

The deal is subject to FCA approval.

TWP’s current management team and staff will spearhead Irwin Mitchell’s wealth management arm, along with existing Financial Planning and investment management arm IM Asset Management.

Mark Shotton, managing director at TWP Wealth, 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 said the deal would expand its wealth management capabilities as well as giving the firm further scale in Financial Planning capability and an expanded leadership team to help existing management focus on growing the business.

Richard Potts, CEO at IM Asset Management, 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 direct for our wealth management and financial planning services.

“TWP Wealth share 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.”

Irwin Mitchell recently opened two new offices in Cardiff and Liverpool.