Edinburgh-based Tweed Wealth Management is looking north for new acquisitions after snatching its Highland counterpart
The seven-figure takeover of Inverness-based John Home Wealth Management has helped take Tweed Wealth Management’s total assets under management to more than £380million, the latter company said.
Following the agreement, all staff from the acquired business and its founder John Home have joined the Tweed team and continue to be based in Inverness, where further investment is planned to expand operations and staff. .
Chris Tweed, Co-Founder and Managing Director of Tweed Wealth Management, said: “The acquisition has helped us achieve our ambitious plans for expansion north of the Central Belt.
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“We see Inverness and the wider Highlands and Islands as offering enormous growth potential for Tweed Wealth Management. While other businesses may focus solely on the Central Belt, we have always aspired to have national exposure throughout Scotland and view the Highlands and Islands as critical to our success.
“John and his team have come from scratch and grown the practice into the premier practice in Inverness, so we have long admired what they have achieved. It was clear from my first meeting with John that the two practices shared values very similar, with a strong focus on delivering high quality financial planning while developing strong relationships with clients and their families across generations.
“We see a very exciting future, both for existing clients and for the introduction of a new wealth management operation in the Inverness and Highlands region.”
Mr. Home said, “Tweed brings great operational expertise and resources. They gave us the freedom to approach things the way we always have while adding resources and support where we needed them.
“The growth plans for the region are exciting and I personally look forward to helping develop a new generation of advisors.”
Mr Tweed, who started his business with his wife Alison in 2014, said the aim was to create “a forward-thinking financial advice practice that supports families and business clients, while offering a wealth of opportunities for talented people to work and achieve great projects”. things”.
The company said the latest deal now means it has 21 employees, with ten financial advisers, six of whom are licensed. John Home customers will continue to be served by the Inverness team, with additional office and administrative support provided by the Tweed team based in Rutland Square in Edinburgh. The company is also present in London.
Mr. Tweed added: “We understand the importance of customer-oriented services, so it was fundamental that we maintain them. The local expertise and knowledge of John and his team is invaluable and will be essential to growing our advisor base in the region.
“We are actively reviewing a number of other acquisitions in the region and expect a number of these to be finalized in 2022.”