Sheffield-based law firm Irwin Mitchell has expanded its wealth management team with the acquisition of Cheshire-based TWP Wealth.

TWP Wealth is a chartered financial planning company based in Alderley Edge that provides a wide range of financial services and financial planning to private and corporate clients.

Completion of the transaction is subject to approval by the Financial Conduct Authority (FCA).

TWP’s current management team and staff will spearhead Irwin Mitchell’s wealth management arm and join forces with IM Asset Management.

IM Asset Management currently has £1 billion of assets under management (AUM) and the acquisition of TWP Wealth will add a further £100 million.

Irwin Mitchell CEO Andrew Tucker said: “Our clients trust us with their legal services at a time of change in their lives or their business — whether through a personal injury or divorce, or they may have sold a business or be looking to secure their families future through estate and tax planning.

“All of these events require financial advice and by bringing TWP Wealth on board, this gives us enhanced expertise for our clients, an increased client-base and further opportunities to cross-sell our legal services and meet their multiple needs.”