Financial planning firm Laurus Associates has been acquired in the latest North East deal for international group Azets Wealth Management.
Jesmond-based Laurus was set up in 2002 and secured Chartered Financial Planner status in 2019. The firm was launched by Karen Barwick and Colin Dawson to offer personal and corporate advice on pensions, life assurance and investments.
The multimillion-pound deal, which is expected to complete at the end of this month, will mean a continuation of Laurus' services including specialisms in trust planning, investment portfolios, auto-enrolment, employee benefits advice and pension property purchase.
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For Azets, the acquisition follows the multimillion-pound purchase of North East accountancy business Tait Walker in 2022 which expanded its network of offices in the region. That move brought five Tait Walker locations under the control of Azets, which operates from 190 bases in six countries and is said to work with more than 100,000 clients.
In August last year the group acquired Glasgow-based chartered accountancy and wealth management firm Milne Craig, adding more than 90 people to its workforce and more than 2,000 clients to its books. Azets said the Laurus Associates team, along with Ms Barwick and Mr Dawson, will benefit from its career development opportunities and the group's people-first culture.
Ms 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, CEO at Azets Wealth Management, said: "We’re pleased to welcome Karen, Colin and the team into Azets Wealth Management. Laurus Associates is a firm I have admired for a number of years, as I’m aware many of their clients are referred 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.”