Tue, 07 Jan 2025 | BUSINESS SALE
Newcastle-based chartered financial planning firm Laurus Associates has been bought by expanding peer firm Azets Wealth Management.
Laurus, which was established in 2002, became one of the first firms in the North East to achieve chartered financial planner status in 2009. It has a particular focus on trust planning, auto-enrolment, investment portfolios, pension property purchase and employee benefits advice.
The deal marks the latest growth milestone for Azets Wealth Management, which operates across the UK from hubs in the North East and Scotland.
It follows Azets' recent acquisition of wealth management and chartered accountancy firm Milne Craig in Glasgow last August. Other recent acquisitions it has made include RSM UK’s specialist medical accounting team last March and Bradford-headquartered chartered accountants, business and tax advisers Naylor Wintersgill in 2023.
Karen Barwick and Colin Dawson, who launched Laurus, and the team will join Azets Wealth Management following the deal - which is expected to complete by the end of January.
Barwick, director at Laurus Associates, said: "We are excited to continue our journey as part of Azets Wealth Management, a company that shares our commitment to building long-lasting partnerships with clients, built on trust and quality advice. This new chapter is an opportunity to provide an even broader range of services and specialist expertise."
Mark Parkinson, chief executive at Azets Wealth Management, added: "Laurus Associates is a firm I have admired for a number of years, as I'm aware many of their clients are referred to by the professional services community in Newcastle. There is a clear cultural alignment between Azets Wealth Management and Laurus Associates, and their achievements over the past 23 years are outstanding. Our team will benefit significantly from their experience and specialised approach, and we hope that clients of Laurus Associates will feel our commitment to continuity and personalised advice."
Find out more about M&A in the financial services sector
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