EXECUTIVE: The Highland's force of finance

When we think about the hub of the financial sector, it is places like London, and the central belt that come to mind.

However, there is a place further north that is shaping up to be a hive for the Scottish finance sector, thanks to a forward-thinking firm.

Born in Edinburgh in 2014, Tweed Wealth Management has now made its second acquisition in Inverness, making it the largest financial advice firm in the Highlands.

Two years ago it acquired Inverness-based John Home Wealth Management, and has followed in November 2022 with the acquisition of Macleod and MacCallum Wealth Management (which is the wealth management arm of Macleod and MacCallum solicitors – a household name up here.)

Tweed Wealth Management was started by husband and wife duo Chris Tweed and Alison Welsh, they have managed to move from a team of two to a team of 30, in eight short years. The total assets under management across the entire business now exceeds £435 million.

The business takes a holistic approach to planning people’s financial futures and looks at the bigger picture to match its service to the individual’s situation, offering every aspect of financial planning as required.

For both Chris and Alison, extending their services to the Highlands, is building on the work that has already been done by experts in the region. Working with such an established and well- respected firm such as Macleod and MacCallum Solicitors in Inverness was the optimum opportunity to spearhead the firms expansion into the Highlands

“We cannot think of a better opportunity UK-wide, than the partnership we have formed with Mac and Mac solicitors”, said Chris.

“It is an amazing opportunity for us to continue and add to the brilliant work that they started when they formed Macleod & MacCallum Wealth Management.

Alison added: “The potential scope for growth in having a partnership like this is very exciting. We see growth in the Highlands coming year on year.

“It is also positive from an employment perspective as well as the growth of our services to clients.”

With expert training programmes and an internal adviser academy that focuses on taking staff right through to Chartered thus ensuring that Tweed staff have the best qualifications in Scotland, the firm is able to bring an array of services to the region that were not feasible before.

For Peter Mason, joint managing director of Mac and Mac Solicitors, this is going to provide clients of the solicitors with an even greater level of wealth management expertise.

Peter said: “Partnering with Tweed enables us to expand the range of financial solutions that we are able to provide for our clients.

“This will benefit our clients and give us extra access to resources, enabling a wider range of solutions to financial issues.

“We are taking what we do to the next level. Tweed is a young, large, dynamic brand who will provide great levels of support. They are a great bunch of people to work with.”

Chris added: “This is a massive development for us. It is the biggest single impactful event we have seen since the beginning of Tweed Wealth Management.

“Mac and Mac are a big brand in the area, and have helped tens of thousands of families in the area for over 50 years.

“To be paired with them, and to work hand in glove, allows both companies to be focused in providing the best level of service for clients.”

It is also not just any business that Chris and Alison choose to work with, but it is about the character of the people, and how their relationships are with customers. This is the reason that they chose to join up with John Home, and Mac and Mac.

“We are a face-to-face business, and it is about personality more than anything to us”, explained Alison.

“Our business involves dealing with clients and a team, so we need to make sure that works.”

Chris added: “Our business has been built on a simple framework, which is relationships, working hard and doing the right thing.

“We have said no to many more acquisitions than we have said yes to. Both John Home and Mac and Mac fit with us, and put the principals we hold close, at the heart of what they do.”

“When we were joining up with John, the feedback we received from everyone was that he is such a nice guy. That is the best review you can get.”

This is why it is important for Chris and Alison to ensure that clients are served face to face in the Highlands, rather than remotely.

“Our intention is not to be remote – there are other companies that look at places like Inverness, and they just say that they are going to deal with people, but don’t put down any foundations. That is not us”, said Chris.

“We have now invested in both offices and are building teams that are based in Inverness. We expect that our biggest provision of services will come from the Highlands.

“We are not an Edinburgh-based firm that will move in and deal with things remotely. I try to get to Inverness weekly, so there is a lot of personal dedication from ourselves.”

Tweed Wealth Management has the highest calibre of services available for business owners, and those with an entrepreneurial spirit.

It also has a sister company, Tweed Wealth Business Advice, for those who are thinking about exiting a business and need help with the options that are out there.

The financial services that are being offered are for everyone, said Peter: “It is vital that people look to take financial advice as everyone has a financial need.

“Whether that be owning, renting, saving or retiring, it is always worthwhile seeking information to see if you can save money or get a better return on what you have.”

Tweed’s plans for 2023 is to focus on building up its relationships with other businesses in the Highlands.

Chris said: “We are looking forward to getting to know other business owners in the region, and nurture relationships.”

Alison added: “We are currently working on a schedule of events for next year, so there will be a lot more opportunities for meet and greets with Tweed alongside Mac and Mac solicitors.”

For Peter this acquisition is important for the Highlands, as it is providing a service to a region that often misses out.

He said: “I think it’s great that a business of the calibre of Tweed is investing in the Highlands.

“Often, companies try to service their clients from central belt locations, but this leaves them remote from their clients. Tweed recognise the need to serve their clients in their own communities and with such a large and experienced team based in the Highlands this is a great advantage for clients.”

Macleod & Maccallum

25 Queensgate,

Inverness,

IV1 1DG

W: www.tweedwealth.co.uk/

T: 01463 258058

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