UK-based accountancy and business advisory firm Armstrong Watson has purchased the financial services business of law firm Burnetts Solicitors.
Financial terms of the deal were not shared.
The deal follows Burnetts’ decision to focus on legal advice by offloading its financial services client base to a firm that specialises in providing financial advice.
Armstrong Watson has been offering financial advice to clients for nearly 50 years through its financial planning division, Armstrong Watson Financial Planning.
Led by managing director Iain Lightfoot and head of advice David Squire, the unit employs 18 independent financial planning consultants across its 16 offices.
As part of the deal, Burnetts independent financial adviser Tony Irving will join Armstrong’s team.
Commenting on the deal, Burnetts managing partner Nick Gutteridge said: “Armstrong Watson is a very natural choice – its services, like ours, are well respected and we trust its skilled team will look after our financial services clients well.
“This will free us up to concentrate on our legal work and we have plans for further significant growth of Burnetts in both Cumbria and Newcastle in the coming years.”
Armstrong Watson, which has offices in the same locations as Burnetts, said that it is well placed to provide clients with the same quality service and advice provided by Burnetts.
Armstrong Watson CEO and managing partner Paul Dickson said: “With both firms being long-established firms in Carlisle, Newcastle, Penrith and West Cumbria, we have many existing mutual client relationships and both firms share common values, making the transition of Burnetts financial services over to Armstrong Watson one that makes good sense for clients to ensure that they continue to receive the highest quality of financial advice.”