Wolverhampton independent financial advisers Newell Palmer & Associates are celebrating the first anniversary of a successful merger of two rivals into the business, which created 12 jobs.

The 13-year-old company acquired Birmingham-based Eales and Upton and Collinge Rayner, bringing more than 10,500 new customers.

Newell Palmer says the transition has gone smoothly and seen turnover rise to £5 million.

Technology and a continuing emphasis on customer care ensured the merger's success.

Director Paul McElroy said: "Following the mergers into our company of two leading West Midlands financial advisers, we have successfully faced the challenge of doubling the size of our business in terms of income and staff levels and are looking forward to the future with confidence.

"Our expenditure on computer resources has been in excess of £75,000 to ensure the best quality service possible for our clients.

"The acquisition has worked well. Since acquiring Eales and Upton there was some initial apprehension on the part of clients to the changes to the business, but with the efforts of our company to contact and review these clients, those that I have personally dealt with have been more than happy with our approach and the way we deal with them and see the changes as a positive development.

"Our team of advisers have seen as many of our new clients as soon as was possible as a matter of priority so that they all felt comfortable and satisfied with our service. We have also employed an additional 12 staff to meet clients' needs."

Now the company, whose head office is in Cleveland Street in the city centre, is looking to the future and seeking new opportunities in acquiring other financial adviser businesses.

Mr McElroy added: "We are continuing to look at quality firms of independent financial advisers with a view to further purchases and job creation."

Newell Palmer was formed in 1993 as specialist corporate financial advisers and has developed into a group of companies providing compliance support and independent financial advice to both corporate and individual personal clients.