WEALTH managers Tweed have taken over a Highlands-based financial advice firm.
The acquisition – the fourth in recent years – takes the total assets under management at the firm to more than £380m.
Edinburgh-based Tweed Wealth Management said all staff at John Home Wealth Management would continue to work in Inverness.
Further investment is planned to expand both operations and headcount.
Chris Tweed, founder and CEO, said: “The acquisition helped us to meet our ambitious expansion plans north of the central belt.
“We see Inverness and the wider Highlands and Islands as offering huge growth potential.
“While other firms may focus on only the central belt, we have always aspired to have national exposure across all of Scotland.”
Tweed said that John Home and his team “started from scratch and built up the firm as the leading practice in Inverness, so we had admired what they achieved for a long time”.
He added: “The first thing you notice is just how highly regarded they are by their clients.
“However, I think it speaks volumes that this respect is not just limited to clients but shared by their peers and their competitors.”
Tweed reckons that both practices share similar values, including a strong focus on delivering high quality financial planning while developing strong relationships with clients.
Home said: “Tweed bring a great deal of operational expertise and resource.
“They have provided us with the freedom to approach things the way we always have while adding resource and support where we have required it.”
Tweed, who set up the practice with wife Alison in 2014, said the firm’s aim was to create a forward-thinking financial advice practice that supports families and business clients.
They also aim to provide opportunity for talented people to work and achieve “great things”.
The latest acquisition has increased headcount to 21. The firm has 10 financial advisers, six of whom are Chartered – considered the “gold standard” within the industry.
John Home clients will continue to be served by the Inverness team, with additional support provided by Tweed.
“We understand the importance of client-facing services, so it was fundamental that we maintain these. The local expertise and knowledge of John and his team are invaluable and will be essential to developing our adviser base in the region,” said Tweed.
He added: “We are actively looking at a number of other acquisitions in the region and expect a number of these to complete in 2022.”
