Montpelier, the West Midlands independent financial adviser, has expanded its UK operation by acquiring the Yorkshire-based RST Group.
With a headquarters in Richmond, RST is one of the north of England's leading accountancy and financial services firms generating #3.7 million in fees annually. One hundred staff operate its ten offices located in Yorkshire, Lancashire, Cumbria and just over the border in Scotland.
"This is a dynamic move forward for our company, extending the financial services we are able to offer to both existing and new clients throughout the UK," said Montpelier chief executive David Yelloly. "The geographical spread of offices of the RST Group and their range of expertise ideally compliments our current UK operations."
Montpelier has seen rapid expansion. Based at Barston, near Solihull, it is Britain's second largest privately-owned IFA and its turnover reached #28.5 million in 2006.
The firm was placed 17th in Professional Adviser magazine's survey of Britain's Top 100 IFAs published last November. Its ambition is to go global.
Its first northern office was opened in Manchester in December 2005. The RST acquisition now means it has bases in Sheffield, Carlisle and Dumfries and a total of 23 UK and 22 overseas offices.
Meanwhile rival wealth management firm Jobson James says it hopes to increase its client base by 20 per cent in the next 12 months and reach a turnover of nearly #3 million over three years.
The Edgbaston based company, which claims to manage the wealth of ten per cent of the Midlands Rich List, has more than doubled turnover since 2004 and now has 2,000 personal and 150 corporate clients.
Managing director Richard Venner said: "The last three years have seen considerable growth in the wealth management sector and Jobson James has now established itself as a sector leader in terms of the quality of the service provide and the size of the portfolio we manage.
"However, as this sector continues to grow, so must we and I believe we now have the team and structures in place to significantly increase our client base in the coming year and double our turnover again in the next three years."
Jobson James' turnover was #870,000 in 2004 but rose to #1.5 million last year. Approximately a third of this is recurring income with the rest generated from new business.
Staff numbers have now increased to more than 20, with specialist personal client and corporate teams.
Mr Venner said: "This is an extremely competitive marketplace so it is not only important to have the highest quality people, but as a company, ensure that structures are in place to get the very best from them.
"We were recently one of the first to offer a complete on-line service for clients to view their investments in real time and we know from our client feedback that this is extremely welcome to the time poor, and has helped simplify what can often be extremely complex portfolios.
"The pension crisis amongst other things, has really focused people's minds on their finances in recent years. We expect to see continued future growth in client demand and we are well placed at the heart of the largest service sector outside the capital to reach our targets."
Jobson James offers a bespoke wealth management service for private clients with complex affairs that require continuous management. Services include investment and pension planning and financial, estate and tax planning and protection.