Wealth management firm Helm Godfrey has acquired Truestone Asset Management’s employee benefits business, Truestone Employee Benefits.
The deal, which will see Truestone’s employee benefits team relocate to Helm Godfrey’s headquarters in the City of London, will take turnover for the combined business to over £7 million.
Truestone Employee Benefits was launched in 1986 to provide strategic advice on the provision and management of retirement benefits, flexible benefits, and group risk to employers and employees.
Under the Helm Godfrey banner, the team will continue to be led by John Deacon, who joined Truestone as head of employee benefits in 2004 from Hymans Robertson.
Graham Cross, managing director of Helm Godfrey, said: “The acquisition is a major development for Helm Godfrey and one which will allow us to compete in an area of the market we believe is set for considerable growth over the coming years.
“Under the leadership of John Deacon, the team at Truestone have built up a tremendous track record of delivering a superior service which is reflected in the quality of the consultants and employers they advise.
“The challenge now is to build on this, taking the enlarged business to the next stage of its growth and development in both the wealth management and employee benefits space.”
Deacon added: “The team and I are very excited to be joining Helm Godfrey. The combined business allows us to provide a truly holistic service to employers and their employees confirming the absolute necessity for advice in the workplace.”
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