Two leading law firms are merging to create what they claim will be a top-five private client team advising both the mid-market along with high and ultra-high-net-worth individuals.
The merger of Irwin Mitchell and Thomas Eggar is set to complete next month. It will combine private client teams from Irwin Mitchell, Thomas Eggar and Berkeley Law, which was acquired by Irwin Mitchell in November 2014.
As part of the merger, around 450 Thomas Eggar employees, including 67 partners, will transfer to Irwin Mitchell after a TUPE process which began today. Also, Thomas Eggar will adopt the Irwin Mitchell brand in the first half of 2016.
The strategy behind the deal is to create a £250m legal services business and position the combined firm as the 11th largest legal business in the UK. Irwin Mitchell Group Chief Executive Andrew Tucker said the merger would enable the Group to expand its range of services for clients with complex financial affairs in the UK and abroad.
“This is about two great businesses coming together to share one great future,” said Tucker. “The wealth advisory market is extremely important to us and this merger gives us greater scale, which will benefit clients. Our aim is to become the legal and wealth advisory business of choice for clients. Combining our strengths will give us a competitive advantage in these markets.
“The number of millionaires is reported to have risen by more than 40 per cent over the last few years and never before has there been such a demand for high-quality advice. Often our clients have complex needs and want advice about a wide range of issues such inheritance tax planning or protecting their finances in the event of a divorce – but whatever their needs, our expanded team will have the expertise to help.”
Thomas Eggar Managing Partner Vicky Brackett is to join the Irwin Mitchell LLP Executive Board. She said that Thomas Eggar has one of the UK’s largest and private client teams which offers services including family law advice, international tax advice, personal wealth planning, probate administration, services for vulnerable clients and tax compliance and trust administration.
“This is a really exciting merger of two dynamic firms that is great news for our clients and our staff,” said Brackett. “Bringing our two firms together will make us only stronger and gives the strength in numbers and experience to offer clients a private wealth service that is second to none. It highlights how Irwin Mitchell recognises the success of Thomas Eggar and Thomas Eggar recognises the strength of Irwin Mitchell.
“Significant levels of our business come from high and ultra-high net-worth clients who are typically entrepreneurs, successful business people and sports and media personalities. Their needs are varied and often complex, spanning their business, family and personal lives and often with an international element, too.”
