AN EDINBURGH team of financial advisers has acquired the wealth management arm of a legal firm in the Highlands.
The tie-up means Macleod and MacCallum Wealth Management will become part of Tweed Wealth Management.
As part of the deal, the legal firm’s directors will take on a minority stake in Scottish capital-headquartered Tweed Wealth Management.
The move comes two years on from the acquisition of Inverness’s John Home Wealth Management with half of the 30-strong business’s client-facing team now working from the city.
Its total assets under management across the entire business now exceed £435 million.
Alison Welsh, co-founder and managing director with Tweed Wealth Management, said: “This deal is a big step forward for the business. It takes us to six client-facing advisers working from Inverness alone - but through our growth plans believe we can get that up to at least 14 within the next three years.
“Macleod & MacCallum is a prized brand in this part of the world and over more than 50 years has served as trusted partner to thousands of families in the Highlands and Islands.”
Peter Mason, joint managing director with Macleod and MacCallum, said: “Tweed Wealth Management’s expertise will offer our clients financial solutions that will be able to help our clients at any stage of their lives. It’s a young, dynamic and client focussed team, and so it was a natural stepping stone to help grow our services.”
This is Tweed Wealth Management’s fifth acquisition in recent years, following on from its deals to secure John Home Wealth Management, Melville Wealth Management, Stevenson-Hamilton Wealth Management and Jamieson Wealth Management.
Chris Tweed, co-founder and chief executive of Tweed Wealth Management, said: “We are one of the only chartered firms working in Inverness and our focus is to deliver unrivalled service and expertise for everyone.
“The potential to expand is truly exciting and I look forward to forming a formidable partnership with the wider Macleod & MacCallum team.”
Mr Tweed, who set up the practice with wife Alison in 2014, said the aim for Tweed Wealth Management was to create a "forward-thinking financial advice practice that supports families and business clients as well as providing a wealth of opportunity for talented people to work and achieve great things".
Addleshaw Goddard names Alan Shanks head of Scottish operations
INTERNATIONAL law firm Addleshaw Goddard has appointed partner Alan Shanks, who specialises in the energy sector, as the new head of its Scottish operations.
Mr Shanks, who currently heads the firm’s finance and projects team north of the Border with a focus on transactions in the energy sector, takes over leadership of the Scottish operations from fellow partner David Kirchin today.
Redesign prompts expansion for Scots medtech firm Aiber
SCOTS medical technology firm Aiber is to double its workforce on the back of an upgrade and redesign of its “carry onboard” solution to support medical emergencies, following six months of trials in collaboration with Boeing Executive Flight Operations.
Aiber, spun out from the University of Aberdeen, will roll out its product to the aviation and maritime sectors in Europe, the US and the Middle East. It expects to create new roles including in software development, sales, and service support.
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