Newcastle Financial Advisers Ltd, the Newcastle Building Society’s financial advice subsidiary, has purchased a second North Yorkshire financial advice firm.
The acquisition of Askrigg-based Carter James Associates, is part of a wider growth strategy to support the commitment of accessible face to face financial advice across the North East, Cumbria and North Yorkshire.
The acquisition complements a multi-million pound branch network investment Newcastle Building Society has been making over the past two years. Most recently it returned financial services to the deeply rural town of Hawes through a community branch in the Upper Wensleydale Community Centre. The Society also recently opened a full size branch in Barnard Castle.
The purchase of Carter James will connect the two branch moves by providing face to face financial advice across the Barnard Castle and Hawes area.
As part of the acquisition, Amanda Carter, director and financial adviser at Carter James Associates has joined Newcastle Financial Advisers.
The nine year old firm brings over 90 investment clients and hundreds more insurance and mortgage clients to Newcastle Financial Advisers, and transfers £2 million funds under management.
Carter said: “I’m really looking forward to working for the North East’s largest building society as a part of Newcastle Financial Advisers – we both value our local communities.
“As I’ve been working singlehandedly for the past few years, I’m really looking forward to working with likeminded people and interacting with colleagues. I’m eager to further develop the genuine relationships I’ve worked hard to create over the past few years, and give them enhanced access to products and services.”
Newcastle Financial Advisers employs almost 50 people, 27 of whom are professional financial advisers. Working in partnership with Openwork, it supports an adviser Academy training programme developing the next generation of financial advisers.
Stuart Dodson, managing director of Newcastle Financial Advisers, said: “We’re delighted to welcome Amanda to the growing team. She brings valuable experience and knowledge of the North Yorkshire region that she will continue to develop as she works across Barnard Castle and Hawes.”