Ludlow: expanding firm using ‘holistic client services model’
A 170-year-old law firm has made its sixth acquisition in seven years as it pursues a strategy of bringing together legal services, wealth management, trusts and tax planning.
Chattertons, which was founded in Horncastle in Lincolnshire 1856, has added Double & Megson Solicitors to its list of recent acquisitions across the East Midlands.
Since 2019, Chattertons has consistently grown through buying firms in the region, with Page Nelson, JGQC Solicitors, Morley Brown Howden, Andrew & Co and Daltons the others.
Double & Megson has traded since 1978 with offices in Bourne and Market Deeping, two market towns just north of Peterborough. The current owners Richard Wood and Shanta Shah have joined Chattertons as consultants.
Chattertons now has a network of 12 offices in towns such as Boston, Lincoln, Grantham and Newark, and a team of more than 240 legal and finance professionals.
Chattertons said acquiring Double & Megson “strengthens client coverage across the county and supports the firm’s long-term plan for strategic expansion”.
Before this, the Chatterton Group – which incorporates its legal services, wealth management, trustee and professional services businesses – had a turnover of £15m.
Revenues have grown steadily in the last eight years, up from £9.8m in 2019, when the acquisitions began.
Chief executive Richard Ludlow said: “Having offices in Bourne and Market Deeping was a natural geographical fit for us, taking account of our existing office locations. It further strengthens our regional presence and supports our ambition to be a leading provider of integrated legal, wealth management and tax services across the East Midlands.”
Mr Ludlow joined Chattertons in 1987 as a trainee legal executive and went on to qualify as both a solicitor and an independent financial adviser.
This “holistic client services model” – combining legal and financial services under one roof – is at the heart of Chattertons’ growth strategy, 170 years after Frederick Tweed started the firm in Horncastle in 1856. It was later acquired by his articled clerk, Richard Chatterton.
Today, the firm has “ambitious plans for growth” based on more acquisitions and organic growth, with the legal and financial teams integrating their work and more cross-over within the services they offer to private and commercial clients.
Mr Ludlow told Legal Futures: “Chattertons’ wealth management service was established in 2001 as part of our vision to offer clients a genuinely holistic, end-to-end service. Since forming Chattertons Wealth Management in 2017, we’ve continued to expand that proposition into a four-pillar approach encompassing legal, wealth management, trusts and tax.
“The response from clients has been incredibly positive because it reflects how people want to receive advice today. Rather than coordinating multiple advisers themselves, they value having experienced professionals working together under one roof, providing joined-up advice that considers the broader picture.”
Chattertons has been investing in talent to grow each division, and the firm is currently expanding its team with 17 new roles, ranging from trainee paralegals to a partner in the construction team.
Rebecca Sneath, who joined Chattertons in January as a tax manager, told Legal Futures: “Coming from a pure accountancy background, it’s been striking to see the difference a genuinely multi-disciplinary firm can make for clients.
“I work closely with our private client and wealth teams, particularly for clients with complex affairs, multiple business interests and succession planning needs.
“Rather than receiving separate pieces of advice, our clients benefit from specialists sitting around the same table. Our private client team may advise on wills and trusts, wealth management will help with investment planning, and my team will ensure the tax implications are fully considered.
“It’s a seamless, joined-up service that gives clients confidence they’re receiving advice that’s in their best interests.”
Scott Wiseman, who heads the wealth management team, said: “The growth of Chattertons Wealth Management has been driven by client demand. We’ve grown to a team of 12 because more clients are recognising the value of having their legal and financial advisers working together.
“That integrated approach enables us to build long-term relationships and provide advice that evolves alongside our clients’ changing needs.”
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