The financial advice arm of Newcastle Building Society has snapped up a County Durham business as part of its growth strategy.
Newcastle Financial Advisers Ltd has acquired Chester-le-Street based Orchard Financial Management, a deal which adds around 200 customers to the business, following the founders’ retirement. The Wallsend based business provides advice on investment, retirement, inheritance tax planning and protection advice through the Society’s network of branches across the North East, Cumbria and North Yorkshire.
The firm said the addition of Orchard gives the new customers access to face-to-face financial advice services throughout the mutual’s network of 32 locations. Graeme Leigh founded Orchard Financial Management in 1998 to provide advice on investments and pensions as well as protection and he has grown the business through word-of-mouth recommendations alongside his wife Michele.
The pair have now decided to retire, saying they were drawn to Newcastle Financial Advisers because of its commitment to building long-term relationships with customers, and expertise in the market.
Mr Leigh said: “The top priority for Orchard Financial Management was to find the right and trusted home for our clients. Newcastle Financial Advisers has a fantastic reputation and we’re impressed by its strong high street presence both in County Durham and throughout the North East, North Yorkshire and Cumbria, which will help to ensure a smooth transition and integration of our local client base.”
Iain Lightfoot, managing director of Newcastle Financial Advisers, said: “We’re pleased to be able to welcome Orchard Financial Management’s customers to Newcastle Financial Advisers Limited. Graeme’s focus on fostering long-term relationships based on a foundation of trust is one that very much aligns with our own purpose, and the acquisition of his business therefore feels like an organic fit for Newcastle Financial Advisers.
“Graeme’s customers will continue to benefit from our commitment to providing personalised, trustworthy financial advice that is accessible to all via our experienced local advisers who are available face-to-face on high streets across Newcastle Building Society’s branch network, and also remotely via video call. Customers will also now benefit from our in-house support team who help our advisers in delivering great advice and providing all important ongoing customer service.”
