Insider Media Limited

Leicester-based Baker Richmond Financial Services has agreed a deal to transfer its staff and business to Berkeley Burke in the city. The move comes ahead of the retirement of two partners at Baker Richmond.

Berkeley Burke specialises in benefit consultancy and financial services.

Baker Richmond Financial Services has been operating in Leicester city centre for more than 20 years.

All its employees will relocate from its London Road premises to Berkeley Burke’s Regent Street office next month.

The deal, which has been made for an undisclosed sum, means that Baker Richmond’s 3,500 clients and its £70m of ‘funds under influence’ will now be managed by Berkeley Burke’s wealth management division.

The Baker Richmond staff will join Berkeley Burke’s existing wealth management team of 17 in Leicester.

Grahame Berkeley, chairman of Berkeley Burke, said: “We are delighted to be welcoming Baker Richmond’s staff to the Berkeley Burke team. The high calibre of staff at Baker Richmond means that the team will be supplemented by some of the most experienced people in the industry and all our clients will continue to benefit from the highest level of advice and service.

“This merger forms part of our strategic growth plan and is one of a number of successful acquisitions the company has made over the past ten years. It means we are better placed than ever for the Retail Distribution Review that will come into effect in 2013 and keeps us at the fore of our industry.”