Tyneside financial advice firm grows client base
North East based wealth management company Seven Bridges has acquired the pensions and investment firm Pension Matters bringing with it a team of new employees, 600 new clients and £110m in assets under management.
Seven Bridges, based in Team Valley, will now widen and diversify its product offering, expand its team and execute future growth and expansion plans in the next 12 months.
With the addition of new clients from this acquisition, Seven Bridges expects to increase its turnover to £1.8m by the end of 2021.
Seven Bridges’ managing director, Ryan Parker, explains: “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.”
Seven Bridges is a family-run company founded and ran by Ryan Parker in 2014. The independent financial advice firm offers consultancy on pensions, investments, savings, tax planning and life cover for corporate clients and individuals.
This latest acquisition is part of the company’s ambitious expansion plans which have seen the company diversify into other sectors and grow its team and client base over the past 12 months.
In January 2019, Seven Bridges celebrated the successful launch of two new businesses; The life insurance advice company, Seven Bridges Life and estate agency business, Seven Keys. Following its first acquisition in April of this year, Seven Keys is now also exploring opportunities for further ventures.
In the wake of COVID-19, Seven Bridges felt the impact of the dramatic stock market crash and the UK-wide lockdown, however the company were quick to react, moving client meetings online and used cloud technology to process legal documentation.
Parker continues: “The stock market falls experienced in March were the fastest in history and had a direct effect on client investments and company share prices globally.
“However, stock markets have recovered with vigour and some clients, companies and advisers now find themselves back at valuations and income levels experienced before the March correction/crash.
“The changes we made to our business processes has made it possible to conduct valuable meetings with new clients from the acquisition and allowed for all of our regulated and required documentation to be completed for their financial plans.
“We intend to continue incorporating a technology-driven client service into our procedures even after COVID-19 has diminished.
“However, our industry is very much led by client contact, so when it is deemed safe to do so, face to face meetings will remain at the forefront of our services.”
With this latest acquisition and the successful launches of Seven Bridges Life and Seven Keys, the Seven Bridges Group is looking ahead to the potential for further acquisitions and and has plans to employ eleven new members of staff before the end of 2021.
“We are currently getting to know our new clients and team members, whilst continuing to service our existing client base,” adds Ryan Parker.
“Once procedures are in place and truly implemented into the ethos of our firm, we may well look for further acquisitions.”
“Long-term, I hope that we can continue to sustainably expand our client base, our employee numbers and our experience and knowledge. 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.”
For more information about Seven Bridges and its services visit sevenbridgesim.co.uk