Newcastle-headquartered wealth manager Tier One Capital has acquired north east-based IFA firm Carrick Financial Management for an undisclosed sum.
Having already acquired a share of the financial advisory business in April 2018, Tier One has now bought the whole company as part of its plans to expand its wealth management segment.
Tier One will fully integrate the acquired firm into its financial operations, retaining its team of IFAs and support staff.
Paul Blight, co-founder of Carrick Financial Management, has become head of wealth management at Tier One.
Ian McElroy, chief executive of Tier One Capital, said: “Completing the acquisition of Carrick Financial Management is a key milestone in the future strategic growth of Tier One Capital.
“It will enable us to develop more extensive capabilities for a wider customer offering, which will benefit a growing number of private individuals, corporate clients and charities.
“It is vitally important that we continue to build on our current momentum and to generate an even greater market presence regionally, nationally and internationally.”
Tier One Capital is headquartered in Newcastle, has offices in London and Switzerland and specialises in providing wealth management advice to high net worth individuals, corporates and charities.