Seven Bridges, a wealth manager based in Team Valley, Gateshead, has wrapped up the purchase of pension and investment firm Pension Matters.

The deal adds £110m of assets to Seven Bridges’ books and is anticipated to boost its turnover to £1.8m by the end of next year.

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It also increases the acquirer’s client base by 600 and brings to it a new employee team.

More acquisitions are on the pipeline for Seven Bridges.

The firm intends to further diversify its product line-up as well as increase employee strength. Plans are on to make 11 new hires by 2021.

Seven Bridges managing director Ryan Parker welcomed the transaction, saying that Pension Matters’ outlook on client service aligns with that of Seven Bridges.

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Referring to Pension Matters, Parker stated: “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.

“Working alongside our new life insurance and estate agency businesses, we aim to strengthen our brand in the North East as a group that can provide innovation, knowledge, opportunity and above all else a prodigious service.”

Seven Bridges provides consultancy on pensions, investments, savings, along with tax planning for corporate clients and individuals.

The firm also launched life insurance advice business, Seven Bridges Life, and estate agency business, Seven Keys.