Independent Wealth Planners (IWP) has acquired Chartered Financial Planning firm Professional Wealth Management (PWM) to create a new Newcastle hub.

The acquisition is IWP’s fourth in the past month. In April IWP acquired Aberdeenshire-based Buchanan & Associates, Moss and Roberts located in Norfolk and Buckinghamshire-based Principal Financial Planning.

PWM is IWPs 23^rd acquisition since its formation two years ago.

PWM was one of the first independent firms in the UK to be awarded the Chartered Financial Planner designation by the Chartered Insurance Institute in 2008.

It provides a range of financial advice, management and planning services to individuals and businesses, managing £150m in client assets.

The firm’s eight-strong team of Financial Planners and administrative staff will remain in Newcastle upon Tyne to form IWP’s Newcastle hub.

PWM is IWP’s first acquisition in the north east of England.

Stephen Dickinson, director and Chartered Financial Planner at PWM, said: “Our ethos at PWM is to build lasting relationships with clients to help them achieve their financial goals and objectives. By partnering with IWP, we can ensure continuity of our existing high-quality service, while expanding our proposition to more local people as the new Newcastle hub, backed by the group’s strong central support.”