North East-based firm Hanson Wealth Management has struck a job-boosting deal with construction workers union UCATT to advise its 120,000 members nationwide. The Union of Construction, Allied Trades and Technicians (UCATT) is Britain’s only specialist construction workers union with members employed in all building trades, in both the private and public sectors.

Hanson Wealth, whose administration centre is based at the Quadrus Centre in Tyneside, has been chosen to help union members across the UK get the right independent financial advice before making decisions on money matters. The firm now plans to take on an extra 30 financial advisors over the next 12 months to handle the new contract.

Hanson Wealth’s current 20-strong team of independent financial advisors is is now set to more than double this year as they help union members make informed choices on money matters such as mortgages, pensions, life assurance and equity release. Hanson Wealth is also part of the Bates Investment Services Group which has a 900 strong national network of advisors.

The deal came about after John Scott, regional secretary for UCATT’s northern region began the search for a team of independent financial advisors to help advise members.

John Scott said: “Because legally union officials cannot give advice to their members on financial matters we felt there was now a gap in our service. We wanted to be able to hand out quality independent advice to our members on all financial matters, especially pensions. We initially spoke to Hanson Wealth about representing us on a regional level but that soon that grew into a national deal."

“We now can now offer all our members professional advice safe in the knowledge that the information they are getting is full and independent.”

The union is now in the process of informing its 120,000 members across the UK and Ireland about the new financial advice service.

Chris Kelly, managing director of Hanson Wealth Management, said: “We already have experience of working in the field of supporting trade union members. We want to give as many workers as possible access to first class financial advice. Now all they have to do is pick up the phone any time they like. This contract, along with others we will be announcing shortly, means we need to recruit additional pension advisers and mortgage advisers across the UK to deal with the inbound enquires.”

The deal with UCAAT marks a successful first 18 months in business for Hanson Wealth Management since it launched from a new base in The Quadrus Centre in Tyneside.