Wealth management business, Tier One Capital Ltd, has acquired a shareholding with Carrick Financial Management.
Tier One Capital specialises in private client, corporate and charitable wealth management. It will work closely with the team to develop further opportunities with the marketplace.
Jess Swindells, Tier One Capital’s managing director, said: “This is an exciting step for us and we are delighted to announce this deal as part of our strategic growth plans. Carrick Financial Management is a highly regarded wealth management company with a very strong team of financial advisers, which has grown successfully in recent years. We are very much looking forward to working closely with the team as we continue to develop our business services and capabilities.”
Carrick Financial Management is supported by financial advisers and office staff at its base in Seaton Burn and was advised by the corporate team led by Partner Paul Hughes at Newcastle-based Mincoffs Solicitors.
Michael Carrick, managing director, added: “This is great news for our clients and everyone associated with CFM. We are delighted how the deal has been structured, which provides the ideal platform for both parties to flourish and develop, well into the future.”
Paul Hughes from Mincoffs Solicitors added “It was an absolute pleasure to act for Michael and the team at Carrick Financial Management and I wish them well for the future.”
The deal was led by Muckle LLP Corporate Lawyer of the year, Philip Clare, along with associate Matthew Walsh and solicitor Stuart Grieve.
Matthew Walsh, associate solicitor, Muckle LLP, said: "We are delighted to have worked with the Tier One team to devise and deliver a structure that works for everyone. This deal is an ideal fit for the coming together of both businesses and provides a clear pathway for strategic growth going forward.
"We look forward to continuing to support the Tier One team to help shape and advise on their future development plans."
Carrick Financial Management is supported by a full complement of financial advisers and office staff at its base in Seaton Burn and was advised by Newcastle-based solicitors Mincoffs.
Tier One Capital was also advised by Inveniam Corporate Finance led by Lee Humble.
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