Henderson Insurance Brokers Teesside has acquired independent financial advisor Arlington Financial.
Established in 1991, Arlington handles a portfolio of over GBP100m for both individuals and business clients.
The agreement will see Arlington renamed as Henderson Private Wealth.
As part of the acquisition, Arlington’s seven employees will join Henderson’s Teesside operation while Jon Sturrock and Ben Danson will become directors of the new IFA division.
Sturrock said, "The combination of insurance brokers and independent financial advisers will provide clients with an enhanced service."
Henderson Teesside director Jonathan Willett said that the acquisition will help drive two Northern businesses forward.
"The deal will also enable both firms to build upon the strengths and growth they have already achieved, as well as providing a broader offering to our clients," Willett said.