Advisers Almary Green and Smith and Pinching to join forces
- Credit: Archant
Two of the region's best-known firms of financial advisers are joining forces to create one of the biggest groups in East Anglia.
Almary Green and Smith and Pinching say they will be working more closely together under the arrangement – which they term 'a dynamic partnership' – with a view to 'complete integration' over time.
The first stage of the deal between the two chartered financial planners, announced on Tuesday, will be the sharing of premises, support teams and back-office resources, and both firms will begin operating from Smith and Pinching's offices in Aylsham Road from October 8.
David Hughff, managing director of Smith and Pinching, said: 'This move strengthens our presence in the region and as we move towards completely combining the two firms, we will be aligning processes and learning from each other to provide a solid platform for future growth.'
Carl Lamb, managing director of Almary Green, will join the Smith and Pinching Group board of directors and work with Mr Hughff and finance director Scott Pinching to develop the business.
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'This is great news for clients of both firms,' said Mr Lamb. 'By pooling our expertise and resources, we can bring greater choice and flexibility.'
Among the benefits would be access to Smith and Pinching's discretionary investment management service, he added.
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The combined operation will have 125 staff, with around one-third having come from Almary Green, and will include 35 advisers, 18 of whom are individual chartered financial planners.
The two companies believe the partnership will give them a greater ability to invest in technical resources and skills, and bring new blood into the profession.
Mr Hughff said staff were enthusiastic and no jobs were at risk.
'There's absolutely no reason why we would need to reduce numbers,' he said. 'Everybody that we both employ is needed, is welcome here and has a constructive role.'
Almary Green's Lowestoft services will relocate to Smith and Pinching's Lowestoft branch in Mobbs Way, while both firms' clients in the Wisbech area will be able to use Almary Green's space in the offices of Wheelers Accountants.