North-east based wealth manager Seven Bridges has acquired pension and investments firm Pension Matters, and has said it is looking for for further acquisitions.

Pension Matters (North East) Ltd is a Gateshead-based pensions and investments consultancy focusing on investment advice, pensions restructuring, and estate planning. The consultancy has 600 clients and under £110m in assets under advice.

Seven Bridges said that it is expecting to increase its turnover to £1.8m by the end of 2021. It was founded by Ryan Parker in 2014 and offers advice on pensions, investments, savings, tax planning, and protection.

The wealth manager said it is also exploring opportunities for further acquisitions.

Ryan Parker, managing director of Seven Bridges, said: “Having known the director of Pension Matters for many years, we were aware that the company’s outlook on client service was in line with ours, and this was paramount.

“The acquisition not only brings a large number of new clients to Seven Bridges, with whom we are excited to work alongside, but it also brings new employees with fresh ideas and in-depth knowledge of the industry.

“Their pension and investment offerings provide us with an increased level of diversity and new investment opportunities. We’re sure that this will benefit existing clients and those from the acquisition, as widening our scope of investment strategies will help to protect and grow client assets.

“Looking ahead, we are confident this acquisition will increase our turnover and profitability, allowing for additional hiring and investment back into Seven Bridges.”

In January 2019, Seven Bridges launched of two new businesses; life insurance advice company Seven Bridges Life, and estate agency business Seven Keys. 

The wealth manager also said it expects to continue to conduct some virtual meetings even once the pandemic has eased. 

Mr Parker said: “The changes we made to our business processes has made it possible to conduct valuable meetings with new clients from the acquisition and allowed for all of our regulated and required documentation to be completed for their financial plans.

“We intend to continue incorporating a technology-driven client service into our procedures even after Cvoid-19 has diminished. However, our industry is very much led by client contact, so when it is deemed safe to do so, face to face meetings will remain at the forefront of our services.”

The Seven Bridges Group has plans to employ eleven new members of staff before the end of 2021.