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Lowes takes over Newcastle firm

Lowes Financial Management has merged with another Newcastle firm, Premium Independent Financial Management.

Premium founder Boyan Tsonchev is taking a 12-month break from the business in a move that will see the Premium brand disappear.

Tsonchev says: “It was not easy to find someone who I was willing to pass my clients on to. Some of them have trusted me with their financial stability for the last two decades and it is incredibly important to me that they are well looked after.”

Lowes managing director Ian Lowes says: “Boyan’s clients will continue to be looked after in the manner to which they have become accustomed. We have a culture of putting clients first, something that seems to be dying out in business as a whole.

“This merger is just the start of a really exciting time for Lowes. We are hoping there will be more of the same in the coming months and I am certain that we will go from strength to strength.”

Lowes says with a strong balance sheet, his firm is in a position to adopt client banks or buy firms outright but he would not want to grow beyond 100 staff. The firm currently has nine advisers.

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