Gateshead firm continues expansion plans with "major" acquisition
A North East wealth management company has made its second acquisition of 2020, continuing its plans to expand exponentially in the next 12 months.
Seven Bridges has completed the acquisition of pension and investment firm Pension Matters, adding 600 new clients and £110m worth of assets to its portfolio. The acquisition is expected to increase Seven Bridges’ turnover to £1.8m by the end of 2021.
Based in Team Valley, Gateshead, Seven Bridges plans to continue diversifying its product offering and expanding its team to achieve further growth, aiming to make additional acquisitions and employ eleven new members of staff before the end of 2021.
Currently, the firm offers consultancy on pensions, investments, savings and tax planning for corporate clients and individuals, having also launched life insurance advice company, Seven Bridges Life and estate agency business, Seven Keys, in 2019.
Managing director Ryan Parker, who founded Seven Bridges in 2014, said: “Having known the director of Pension Matters for many years, we were aware that the company’s outlook on client service was in line with ours, and this was paramount.
“The acquisition not only brings a large number of new clients to Seven Bridges, with whom we are excited to work alongside, but it also brings new employees with fresh ideas and in-depth knowledge of the industry.
“Their pension and investment offerings provide us with an increased level of diversity and new investment opportunities. We’re sure that this will benefit existing clients and those from the acquisition, as widening our scope of investment strategies will help to protect and grow client assets.
“Looking ahead, we are confident this acquisition will increase our turnover and profitability, allowing for additional hiring and investment back into Seven Bridges.
“Working alongside our new life insurance and estate agency businesses, we aim to strengthen our brand in the North East as a group that can provide innovation, knowledge, opportunity and above all else a prodigious service.”
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