A Chartered Financial Planning firm has snapped up a former Tilney and Close Brothers wealth manager.

Prest Financial Planning, which has been based in Hazel Grove, near Stockport in Greater Manchester, for more than half a century, has hired Mike Walker. He specialises in estate planning and Inheritance Tax.

He joins an existing team of seven client-facing advisers at a time of “rapid expansion” for the family-owned company.

The firm said new business increased by almost 20 per cent in 2017 – partly from rising enquiries around Defined Benefit pension transfers. Another specialist area is socially responsible investment.

Chief executive Graham Prest said: "We have been successful in growing the business over the last few years but we have even more ambitious plans for the future. Mike's experience and expertise will stand us, and our clients, in good stead as we deliver on our business plan for further growth.”

Mr Walker cited what he called the “strong family ethos” of the firm as a reason for joining.

He said: “This is the first time I have worked outside a corporate environment and when I first spoke to Graham Prest, the chief executive, it was really refreshing to hear him talking about the client journey and the way the firm puts true Financial Planning, and its clients' best interests, firmly at the heart of its proposition."

Prest currently manages funds of £350 million.