Thomas Carroll Independent Financial Advisers Ltd, which has an office in Newport, has expanded its wealth management division, creating capacity to grow assets under management from £300m to £500m over the next five years.

The firm offers advice on pension funds and investments, focusing on wealth management and complex financial planning advice for private individuals and business owner managers linked to its corporate employee benefits arm.

Thomas Carroll’s Newport office is located in the Clytha Park district of the city.

Mark Eedy, Thomas Carroll Group board director and managing director of Thomas Carroll Independent Financial Advisers, said: “It is becoming increasingly common to see individuals whose biggest asset is their pension fund and in a changing economy, managing a large pension pot and maximising returns can be a challenge.

"The existence of our employee benefits team means we can also offer in-house financial planning advice to employees of our corporate clients, making our business model unique

"A strong financial performance in recent years has enabled us to reinvest and develop our team which includes chartered financial advisers and para planners.”

Thomas Carroll independent financial advisers reported an 11 per cent increase in profit after tax for the financial year ending December 2017.

Mark said: "Having the ability to respond quickly to market events and regulatory changes is a vital part of what we do.

“We have appointed five new people in 2018, creating the capacity we need to continue to provide a first-class service to clients and achieve growth aspirations.

"Future proofing our business by employing a qualified and experienced team is part of our succession plan and growth strategy.

"Our success to date has been built on forming trusting and long-lasting relationships with private individuals and owner managers across South Wales and further afield.”