The Midlands-based firm is aiming to move onto the national stage and believes a partnership with Robert Stirling will help it achieve this.
Talks between the two parties are still ongoing but Oakwood Financial Management is hopeful a deal will be struck in the near future to tie the two businesses together.
Jas Jaspal, senior partner at Oakwood Financial Management, said: “While there are no firm details yet and nothing has been finalised, our negotiations are about 90 per cent complete. We believe our experience on an independent level, combined with Robert Stirling’s national offering, will allow us to expand the business to a wider level.”
Oakwood Financial Management currently employs around 20 advisers and have a turnover of around £2.5m, dealing 50/50 between mortgages and life insurance and pensions. Robert Stirling is a super-tanker tied up with Legal & General (L&G) and completes around £8m of business each year.
The move will help expand its business beyond a local level, while Robert Stirling will achieve an IFA presence to complement its business with L&G.
While Oakwood Financial Management hopes the tie-up with Robert Stirling will help it achieve this, the firm has already set its sights further ahead with a possible deal with a lender.
Jaspal commented: “We want to take the firm to a national level and hopefully we will be doing this with Robert Stirling. However, regardless of whether the deal is done, hopefully we can set up a partnership with a lender in the future and help the business grow.”
