Financial Planning and wealth management firm Tilney Smith & Williamson has added Explore Wealth Management’s team to its Newcastle office.
The deal is the first under Tilney Smith & Williamson's new succession programme.
Explore Wealth Management provides retirement planning, pensions advice and investment management services and specialises in working with current and former business owners, professionals and senior managers who are either approaching, or are already in, retirement.
Explore Wealth Management’s owner Stephen Sumner will join Tilney Smith & Williamson as part of the deal.
Tilney Smith & Williamson announced the launch of the succession programme last month, targeting retiring financial advisers who want to transfer their client books.
Tilney says it is keen to talk to advisers who do not currently have a succession plan in place and want to consider moving their client book to the firm to ensure an orderly and “gradual handover” of relationships.
Mr 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.”
David Smith, managing partner of Tilney Smith & Williamson’s Newcastle office, 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.”
The firm’s five staff, including Financial Planners, are currently based in Cramlington in Northumberland and will move to Tilney’s Newcastle office.
The Tilney Smith & Williamson Financial Planning team now has 300 Financial Planners following the merger between Tilney and Smith & Williamson in September 2020.
Since then, the firm has made a number of smaller acquisitions including Guildford-based investment and financial advisory firm HFS Milbourne, Index Wealth Management in the Midlands and the wealth management arm of Moore Stephens.