Newcastle Building Society’s financial advice subsidiary, Newcastle Financial Advisers Ltd, has purchased the advice firm, Fidelis Financial Solutions, based in the bustling market town of Pickering in North Yorkshire.
The acquisition, which is part of Newcastle Financial Advisers’ growth strategy, supports the Building Society’s commitment to extend the provision of accessible face to face financial advice on the high street. It sits within a wider multi million pound branch investment programme, including opening several new branches in market towns and rural locations.
Newcastle Financial Advisers was established by the Society over 16 years ago and has 25 qualified financial advisers across its network. Working in partnership with one of the largest financial adviser networks, Openwork, it supports an adviser Academy training programme developing the next generation of financial advisers. The acquisition of Fidelis, which serves more than 2,000 customers locally, will see it add to its network of advice locations and ensure the continuity of financial advice provision in Pickering and the surrounding area.
Founded by Director, Andy Sharp, Fidelis Financial Solutions has served the town of Pickering and its wider reaches since 2005. The acquisition has enabled Andy to realise the value in his business and continue as the area’s local financial adviser as part of Newcastle Financial Advisers, which he joins along with other members of the team.
“I’ve called Pickering home for over 30 years and I’ve been proud to provide financial advice to the people of this fantastic town for over 14 years. I’m pleased to be joining Newcastle Financial Advisers, and looking forward to giving my customers and clients access to an even wider variety of products and services.
“From working in the centre of Pickering to completing home visits as far out as Scarborough, my focus has been on building genuine relationships with my clients as I’ve grown this business through personal recommendation. I’m really looking forward to working with the North East’s largest building society as part of Newcastle Financial Advisers as we share a focus on customer service and recognise the value of supporting local communities.”
Stuart Dodson, who led the acquisition as managing director of Newcastle Financial Advisers said:
“We’re delighted to welcome Andy and his team to Newcastle Financial Advisers and to our Society. They bring significant experience and local knowledge and can continue to serve the customers whose loyalty they have built over years. We’re committed to maintaining a presence in Pickering and believe that offering access to face to face advice is vitally important in helping people to plan their finances. Being locally present is key to ensuring specialist advice is accessible when people need it.”
Andrew Haigh, chief executive of Newcastle Building Society, added: “Over the past few years, a growing number of high street banks and building societies have reduced or withdrawn their face-to-face financial advice offer and in many instances, their physical presence.
“We’re committed to maintaining and enhancing our presence on high streets across the North East, Cumbria and North Yorkshire, and we’re investing heavily through our branch investment programme, which this acquisition will complement.”
Newcastle Building Society announced in July it will open a community branch in deeply rural Hawes, in the Yorkshire Dales by the end of the year.