Menu Close

TSM Adds Northumberland Wealth Team

view original post

Jackie Bennion, Deputy Editor, 10 November 2021

The move is part of Tilney Smith & Williamson’s recently launched succession planning programme for smaller advisors, and brings an additional five members to its Newcastle hub.

National wealth manager Tilney Smith & Williamson is bolstering its North East coverage by adding an advisory and support team from Explore Wealth Management, bringing Tilney’s team in Newcastle to 22.

A team of five moving over from Cramlington-based Explore Wealth Management is expected to add experience in financial planning, paraplanning and administration and play a part in Tilney Smith & Williamson’s succession programme.The programme was launched last month in a bid to provide advisors approaching retirement with a smooth transition and a new long-term home for their advisory teams and clients.

The Explore team has already carved out specialist knowledge working with current and former business owners, professionals and senior managers who are approaching or have already reached retirement, the group announced.

Succession planning is a stubborn issue for a sector that has many older advisors facing retirement with no obvious succession plan. Tailoring such a service adds another string to the bow for well-run firms to consolidate and boost assets under management.

Explore Wealth’s owner Stephen Sumner will move with his team to Tilney Smith & Williamson’s Quayside House office led by managing partner David Smith; TSM noted that it has been providing financial planning services to Explore’s Newcastle clients for 10 years.