Acquisition expands law firm’s wealth management services

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Sheffield-headquartered law firm Irwin Mitchell has expanded its wealth management team with the acquisition of Cheshire-based TWP Wealth as it seeks to expand its range of wealth management services heritage available to its customers.

TWP Wealth is a licensed financial planning company based in Alderley Edge and offers a wide range of financial and financial planning services to individuals and businesses.

Completion of the transaction is subject to the approval of the Financial Conduct Authority (FCA).

TWP’s current management team and staff will lead Irwin Mitchell’s wealth management arm and partner with IM Asset Management, which currently provides a full range of financial planning and investment management services.

In addition to continuing the support provided to Complex Personal Injury (PIC) clients through IM Asset Management, the acquisition of TWP will enhance the scale and capabilities of Irwin Mitchell’s wealth management services, enabling the firm to meet the needs of existing and new customers across the entire service lifecycle.

IM Asset Management currently has approximately £1bn of assets under management (AUM) and the acquisition of TWP Wealth will add a further £100m of AUM, while giving Irwin Mitchell greater financial planning capability and an expanded management team to support existing management. focus on growing the business.

In addition to its Sheffield headquarters, Irwin Mitchell has a network of offices across the UK, including bases in Leeds, Manchester and Liverpool.

Andrew Tucker, Group CEO at Irwin Mitchell, said, “We have a successful business, focused on creating lifetime value for customers.

“Our clients trust us with their legal services at a time when their life or business is changing, whether it is due to personal injury or divorce, or if they have sold a business or are looking to insure the future of their family through estate and tax planning.

“All of these events require financial advice and by integrating TWP Wealth, it gives us increased expertise for our clients, an increased client base and new opportunities to cross-sell our legal services and meet their multiple needs.”

Richard Potts, CEO of 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 outside of Irwin Mitchell who come directly for our wealth management and financial services. planning department.

“TWP Wealth shares our goal of building client trust and loyalty and we are proud of our excellent client feedback scores.”

Mark Shotton, managing director of TWP Wealth, who will lead the wealth management service, said: “Irwin Mitchell is a truly unique company with significant potential to grow the brand beyond legal services and into financial planning and wealth management.

“Our values ​​and our approach to clients are very similar: to treat them as people and to work collaboratively to create tailored lifetime financial plans that work for them.”

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