Tweed Wealth Management has underlined its growth ambitions with the takeover of leading Highlands financial advice practice John Home Wealth Management – marking the fourth acquisition in recent years for the Edinburgh based firm.
The acquisition of Inverness-based John Home Wealth Management helped to bring the total assets under management at Tweed Wealth Management to more than £380 million.
Under the move, all existing staff as well as Principal John Home joined the established Tweed team and continue to be based in Inverness where further investments are planned to expand operations and headcount.
Chris Tweed, co-founder and CEO of Tweed Wealth Management, 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 for Tweed Wealth Management. While other firms may focus on only the Central Belt, we have always aspired to have national exposure across all of Scotland and view the Highlands and Islands as critical to our success.
“John 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. 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.
“It was clear from my first meeting with John that both practices shared very similar values, with a strong focus on delivering high quality financial planning while developing strong relationships with clients and their families through the generations.
“We see a very exciting future ahead, both for existing clients and in introducing a new wealth management operation to the Inverness and Highlands area.”
John Home, Principal and founder of John Home Wealth Management, said: “When joining Tweed Wealth Management, maintaining continuity and the level of service our clients expect was of upmost importance so we are delighted that the transition has been so smooth.
“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.
“The growth plans for the region are exciting and I am personally looking forward to helping to develop a new generation of advisers.”
Chris, who set up the practice with wife Alison in 2014, said the aim for Tweed Wealth Management was to create a forward-thinking financial advice practice that supports families and business clients as well as providing a wealth of opportunity for talented people to work and achieve great things.
As well as having swelled total funds under management, the acquisition has contributed to Tweed’s increase in staff headcount to 21. The firm now has 10 financial advisers, including six Chartered individuals – the “gold standard” within the industry.
Clients of John Home will continue to be served by the Inverness team, with additional administrative and back office support provided by the Tweed team based in Edinburgh’s Rutland Square.
Chris added: “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.
“We are actively looking at a number of other acquisitions in the region and expect a number of these to complete in 2022.”
