Azets Wealth Management has reached an agreement to acquire Newcastle-based financial planning firm Laurus Associates for an undisclosed sum.

Laurus Associates was established in 2002 and specialises in trust planning, auto-enrolment, investment portfolios, pension property purchase, and employee benefits advice.

It was one of the first firms in the north east to receive chartered financial planner status in January 2009.

The chartered financial planning firm was founded by Karen Barwick and Colin Dawson, who will both join Azets Wealth Management upon completion of the deal alongside the rest of the Laurus Associates team.

The acquisition is expected to be completed by the end of January 2025 and marks a continued expansion of Azets Wealth Management’s operations.

It follows Azets Wealth Management’s acquisition of Glasgow-based wealth management and chartered accountancy firm Milne Craig earlier this year.

Commenting on the deal, Azets Wealth Management CEO, Mark Parkinson, said: “We’re pleased to welcome Karen, Colin and the team into Azets Wealth Management. Laurus Associates is a firm I have admired for a number of years, as I’m aware many of their clients are referred by the professional services community in Newcastle.

“There is a clear cultural alignment between Azets Wealth Management and Laurus Associates, and their achievements over the past 23 years are outstanding.

“Our team will benefit significantly from their experience and specialised approach, and we hope that clients of Laurus Associates will feel our commitment to continuity and personalised advice.”

Laurus Associates director, Karen Barwick, added: “We are excited to continue our journey as part of Azets Wealth Management, a company that shares our commitment to building long-lasting partnerships with clients, built on trust and quality advice.

“This new chapter is an opportunity to provide an even broader range of services and specialist expertise.”

---