True Bearing passes £1bn assets under management mark

True Bearing, part of the Amber River group (a partnership of some of the UK’s leading regional Independent Financial Adviser (IFA) groups), is in expansion mode.

2022 has been a period of growth for the Chorley-based financial adviser firm. Since True Bearing joined the Amber River group in 2021, the award-winning company has added an acquisition focus to its underlying organic growth.

In the last nine months, True Bearing has acquired seven small, but high-quality north-west IFA firms. These firms are based in locations across the North West and beyond, including Radcliffe, Bowden, Sale, Preston, Cockermouth, Stoke and Macclesfield.

With these acquisitions, True Bearing has hit an exciting milestone; one billion pounds of assets under management (AUM) on behalf of their clients. They are also in talks with several other North West IFA firms and with these further acquisitions in the pipeline, the company hopes to pass the 10 million turnover mark.

The True Bearing company ethos is based on a philosophy of good advice and good service, aiming to enrich the lives of their clients. The company has always prided itself on its down-to-earth attitude, typical of many Lancashire-based firms.

Chairman George Critchley says: "The firms we have decided to buy have been run by people with the same attitude, so it appears there is a good cultural fit. We value every pound that our investors trust us with."

This acquisition programme and the continuing demand for our services have created many new employment roles in the Lancashire area. As well as the staff from the acquisitions, True Bearing has added three additional outstanding and experienced IFAs since the start of 2022 and more will join before the end of the year. This has also led to a need for more back office support including Adviser Assistants and new additions to the Business Development team.

Of the acquisitions, Mary-Anne McIntyre, CEO of Amber River says: "From the first time we met George and the True Bearing team we knew they shared our passion for creating a best-in-class financial planning group centred around clients.

"George is well known for this and, as a result, has been able to attract like-minded businesses in the region to join him on the journey. It’s a pleasure to see our partnership bearing fruit and new roles being created to support both client and firm growth.”